First Republic Investment Management Inc. lifted its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 8.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,464 shares of the bank’s stock after purchasing an additional 668 shares during the period. First Republic Investment Management Inc.’s holdings in Bank of Montreal were worth $641,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Bank of Montreal by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 14,592,498 shares of the bank’s stock worth $1,071,673,000 after acquiring an additional 748,173 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Bank of Montreal by 32.5% in the 3rd quarter. CIBC Asset Management Inc now owns 7,059,573 shares of the bank’s stock worth $532,857,000 after acquiring an additional 1,731,928 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in Bank of Montreal by 6.8% in the 3rd quarter. Great West Life Assurance Co. Can now owns 6,098,215 shares of the bank’s stock worth $460,556,000 after acquiring an additional 390,688 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Bank of Montreal by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,800,439 shares of the bank’s stock worth $287,731,000 after acquiring an additional 41,934 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Bank of Montreal by 13.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,134,272 shares of the bank’s stock worth $229,733,000 after acquiring an additional 374,747 shares during the last quarter. Institutional investors own 42.78% of the company’s stock.

Bank of Montreal (NYSE BMO) opened at $78.20 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $50,924.84, a PE ratio of 12.60, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06. Bank of Montreal has a twelve month low of $66.75 and a twelve month high of $79.02.

The business also recently announced 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 represents a $2.93 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Wednesday, January 31st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.72. Bank of Montreal’s payout ratio is presently 46.45%.

Several brokerages recently weighed in on BMO. Canaccord Genuity reissued a “hold” rating and issued a $105.00 price objective on shares of Bank of Montreal in a report on Tuesday, December 5th. Scotiabank reissued a “buy” rating and issued a $112.00 price objective on shares of Bank of Montreal in a report on Wednesday, November 22nd. Zacks Investment Research raised Bank of Montreal from a “sell” rating to a “hold” rating in a report on Monday, November 20th. Macquarie began coverage on Bank of Montreal in a report on Tuesday, October 24th. They issued a “neutral” rating and a $81.00 price objective for the company. Finally, BidaskClub raised Bank of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Bank of Montreal currently has a consensus 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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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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