Mather Group LLC. Takes $104,000 Position in Bank of Montreal (NYSE:BMO)

Mather Group LLC. purchased a new stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,055 shares of the bank’s stock, valued at approximately $104,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Schechter Investment Advisors LLC increased its holdings in Bank of Montreal by 3.8% in the 4th quarter. Schechter Investment Advisors LLC now owns 3,161 shares of the bank’s stock worth $313,000 after acquiring an additional 116 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in Bank of Montreal by 2.1% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,739 shares of the bank’s stock worth $568,000 after acquiring an additional 116 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Bank of Montreal by 1.9% in the 4th quarter. Pacer Advisors Inc. now owns 6,622 shares of the bank’s stock worth $655,000 after acquiring an additional 126 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Bank of Montreal by 39.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock worth $46,000 after acquiring an additional 130 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Bank of Montreal by 3.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,547 shares of the bank’s stock worth $450,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Trading Down 0.1 %

BMO stock opened at $83.77 on Friday. The firm has a fifty day moving average price of $90.28 and a 200 day moving average price of $93.01. Bank of Montreal has a fifty-two week low of $73.98 and a fifty-two week high of $100.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $61.09 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 2.08 and a beta of 1.12.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, July 30th will be issued a $1.125 dividend. The ex-dividend date is Tuesday, July 30th. This is a positive change 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 5.37%. Bank of Montreal’s dividend payout ratio (DPR) is 74.25%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Desjardins lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Barclays started coverage on Bank of Montreal in a research note on Wednesday, March 20th. They issued an “overweight” rating for the company. Keefe, Bruyette & Woods downgraded Bank of Montreal from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $137.00 to $124.00 in a research note on Monday, June 3rd. Finally, StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.