Compass Wealth Management LLC Acquires 640 Shares of Bank of Montreal (NYSE:BMO)

Compass Wealth Management LLC grew its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 106.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,240 shares of the bank’s stock after buying an additional 640 shares during the quarter. Compass Wealth Management LLC’s holdings in Bank of Montreal were worth $121,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Canoe Financial LP increased its position in Bank of Montreal by 300,456.3% in the fourth quarter. Canoe Financial LP now owns 105,510,305 shares of the bank’s stock worth $10,439,190,000 after purchasing an additional 105,475,200 shares during the period. Vanguard Group Inc. raised its stake in shares of Bank of Montreal by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 28,073,185 shares of the bank’s stock worth $2,777,561,000 after buying an additional 881,992 shares during the last quarter. TD Asset Management Inc lifted its holdings in Bank of Montreal by 19.9% in the fourth quarter. TD Asset Management Inc now owns 19,225,705 shares of the bank’s stock valued at $1,911,635,000 after buying an additional 3,187,998 shares during the period. Bank of Nova Scotia grew its holdings in Bank of Montreal by 10.6% during the 3rd quarter. Bank of Nova Scotia now owns 14,783,968 shares of the bank’s stock worth $1,247,154,000 after acquiring an additional 1,417,298 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Bank of Montreal by 5.4% during the 4th quarter. Mackenzie Financial Corp now owns 14,495,589 shares of the bank’s stock valued at $1,435,002,000 after acquiring an additional 738,579 shares during the last quarter. 45.82% of the stock is owned by institutional investors.

Bank of Montreal Trading Up 0.4 %

Shares of BMO stock opened at $84.16 on Thursday. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12. The firm has a 50 day moving average price of $90.68 and a two-hundred day moving average price of $93.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $61.37 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 2.08 and a beta of 1.12.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be paid 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 annualized dividend and a yield of 5.35%. Bank of Montreal’s payout ratio is 74.25%.

Wall Street Analysts Forecast Growth

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

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.