Ossiam Has $6.06 Million Position in Bank of Montreal (NYSE:BMO)

Ossiam raised its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 31.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,978 shares of the bank’s stock after purchasing an additional 14,550 shares during the period. Ossiam’s holdings in Bank of Montreal were worth $6,063,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. lifted its position in Bank of Montreal by 5.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,971 shares of the bank’s stock worth $504,000 after acquiring an additional 314 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Bank of Montreal by 46.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,132 shares of the bank’s stock worth $349,000 after buying an additional 1,305 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Bank of Montreal by 13.1% during the third quarter. Van ECK Associates Corp now owns 98,869 shares of the bank’s stock worth $8,344,000 after buying an additional 11,486 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Bank of Montreal by 24.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 9,504 shares of the bank’s stock valued at $802,000 after acquiring an additional 1,847 shares during the period. Finally, Pathstone Family Office LLC grew its stake in shares of Bank of Montreal by 49.5% in the third quarter. Pathstone Family Office LLC now owns 5,086 shares of the bank’s stock worth $437,000 after acquiring an additional 1,684 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BMO shares. StockNews.com raised Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. Keefe, Bruyette & Woods lowered Bank of Montreal from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $137.00 to $124.00 in a research report on Monday, June 3rd. Desjardins cut Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Jefferies Financial Group started coverage on Bank of Montreal in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Finally, Barclays assumed coverage on Bank of Montreal in a report on Wednesday, March 20th. They issued an “overweight” rating for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of Montreal has an average rating of “Moderate Buy” and a consensus price target of $127.50.

Bank of Montreal Stock Down 1.8 %

Shares of NYSE:BMO traded down $1.57 during mid-day trading on Friday, reaching $84.96. 915,073 shares of the stock were exchanged, compared to its average volume of 937,374. The stock’s 50 day simple moving average is $92.76 and its 200-day simple moving average is $92.93. Bank of Montreal has a one year low of $73.98 and a one year high of $100.12. The company has a market cap of $61.96 billion, a P/E ratio of 14.11, a P/E/G ratio of 2.24 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.12.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, July 30th will be issued a $1.125 dividend. The ex-dividend date is Tuesday, July 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.50 dividend on an annualized basis and a dividend yield of 5.30%. Bank of Montreal’s dividend payout ratio (DPR) is 74.25%.

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.