Cumberland Partners Ltd Acquires 5,700 Shares of Bank of Montreal (NYSE:BMO)

Cumberland Partners Ltd lifted its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 28.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,603 shares of the bank’s stock after buying an additional 5,700 shares during the quarter. Cumberland Partners Ltd’s holdings in Bank of Montreal were worth $2,533,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BMO. EverSource Wealth Advisors LLC raised its holdings in Bank of Montreal by 192.1% in the third quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock valued at $28,000 after acquiring an additional 219 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of Bank of Montreal during the 3rd quarter worth $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Bank of Montreal in the 3rd quarter valued at about $33,000. Crewe Advisors LLC increased its stake in shares of Bank of Montreal by 63.5% during the 3rd quarter. Crewe Advisors LLC now owns 515 shares of the bank’s stock valued at $43,000 after acquiring an additional 200 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Bank of Montreal by 177.4% during the 4th quarter. Global Retirement Partners LLC now owns 527 shares of the bank’s stock worth $50,000 after purchasing an additional 337 shares during the period. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Montreal Stock Up 0.9 %

Shares of NYSE:BMO traded up $0.83 during mid-day trading on Tuesday, reaching $93.82. 606,020 shares of the stock were exchanged, compared to its average volume of 671,778. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.12. The company has a market cap of $68.42 billion, a P/E ratio of 17.90, a P/E/G ratio of 1.76 and a beta of 1.13. Bank of Montreal has a one year low of $73.98 and a one year high of $100.12. The stock’s 50 day simple moving average is $94.26 and its 200-day simple moving average is $90.05.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, February 27th. The bank reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.34). Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $6.34 billion. As a group, equities research analysts predict that Bank of Montreal will post 8.94 EPS for the current year.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be paid a $1.1172 dividend. This represents a $4.47 dividend on an annualized basis and a dividend yield of 4.76%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, April 26th. Bank of Montreal’s payout ratio is currently 62.02%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Bank of Montreal in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. Finally, Barclays began coverage on Bank of Montreal in a report on Wednesday, March 20th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $131.00.

Bank of Montreal Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.