Bank Of Montreal $BMO Stock Position Reduced by Ignite Planners LLC

Ignite Planners LLC decreased its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 47.0% during the 4th quarter, HoldingsChannel reports. The firm owned 5,109 shares of the bank’s stock after selling 4,526 shares during the period. Ignite Planners LLC’s holdings in Bank Of Montreal were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Code Waechter LLC lifted its holdings in shares of Bank Of Montreal by 1.7% in the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock worth $582,000 after purchasing an additional 75 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Bank Of Montreal by 33.2% in the 4th quarter. Larson Financial Group LLC now owns 317 shares of the bank’s stock worth $41,000 after purchasing an additional 79 shares during the last quarter. Naples Global Advisors LLC lifted its holdings in shares of Bank Of Montreal by 0.5% in the 4th quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank’s stock worth $2,308,000 after purchasing an additional 80 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Bank Of Montreal by 4.6% in the 3rd quarter. Allworth Financial LP now owns 2,121 shares of the bank’s stock worth $276,000 after purchasing an additional 94 shares during the last quarter. Finally, Choreo LLC lifted its holdings in shares of Bank Of Montreal by 3.6% in the 3rd quarter. Choreo LLC now owns 2,735 shares of the bank’s stock worth $356,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Up 0.9%

BMO opened at $161.10 on Friday. Bank Of Montreal has a one year low of $102.70 and a one year high of $161.55. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s fifty day moving average is $145.72 and its 200-day moving average is $137.81. The company has a market capitalization of $112.91 billion, a PE ratio of 18.71, a P/E/G ratio of 0.90 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The business had revenue of $7.21 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.04 EPS. On average, equities analysts predict that Bank Of Montreal will post 11.56 EPS for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Wednesday, April 29th will be issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, April 29th. Bank Of Montreal’s payout ratio is presently 55.75%.

Analyst Upgrades and Downgrades

BMO has been the topic of several recent research reports. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Barclays cut Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a research report on Friday, March 20th. Zacks Research cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bank Of Montreal in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.