Bank of Montreal (BMO) Holdings Reduced by JPMorgan Chase & Co.
JPMorgan Chase & Co. decreased its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 36.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 454,449 shares of the bank’s stock after selling 265,051 shares during the period. JPMorgan Chase & Co. owned 0.07% of Bank of Montreal worth $34,356,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMO. Bronfman E.L. Rothschild L.P. raised its stake in Bank of Montreal by 1.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock worth $102,000 after acquiring an additional 15 shares during the period. Motco bought a new stake in Bank of Montreal during the 3rd quarter worth approximately $108,000. Advisory Services Network LLC raised its stake in Bank of Montreal by 409.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock worth $115,000 after acquiring an additional 1,260 shares during the period. IFP Advisors Inc raised its stake in Bank of Montreal by 11.5% during the 2nd quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock worth $118,000 after acquiring an additional 166 shares during the period. Finally, Sei Investments Co. raised its stake in Bank of Montreal by 6,400.0% during the 3rd quarter. Sei Investments Co. now owns 2,015 shares of the bank’s stock worth $174,000 after acquiring an additional 1,984 shares during the period. Institutional investors own 42.78% of the company’s stock.
Shares of Bank of Montreal (NYSE BMO) traded down $0.07 on Tuesday, reaching $78.36. 360,400 shares of the company’s stock were exchanged, compared to its average volume of 425,732. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.07 and a current ratio of 1.07. Bank of Montreal has a twelve month low of $66.75 and a twelve month high of $79.02. The stock has a market cap of $50,808.23, a price-to-earnings ratio of 12.57, a P/E/G ratio of 2.05 and a beta of 1.06.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Thursday, February 1st will be issued a dividend of $0.733 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.72. This represents a $2.93 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Wednesday, January 31st. Bank of Montreal’s dividend payout ratio (DPR) is 46.45%.
A number of research firms have commented on BMO. Canaccord Genuity restated a “hold” rating and set a $105.00 target price on shares of Bank of Montreal in a research note on Tuesday, December 5th. Macquarie began coverage on shares of Bank of Montreal in a research note on Tuesday, October 24th. They set a “neutral” rating and a $81.00 target price on the stock. Zacks Investment Research cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Scotiabank reaffirmed a “buy” rating and set a $112.00 price objective on shares of Bank of Montreal in a report on Wednesday, November 22nd. Finally, BidaskClub raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $98.20.
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Bank of Montreal Company Profile
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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