Wellington Management Group LLP Has $10.60 Million Holdings in Bank of Montreal (NYSE:BMO)

Wellington Management Group LLP trimmed its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 15.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,621 shares of the bank’s stock after selling 19,306 shares during the quarter. Wellington Management Group LLP’s holdings in Bank of Montreal were worth $10,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Principal Securities Inc. acquired a new stake in Bank of Montreal in the fourth quarter valued at approximately $33,000. Cullen Frost Bankers Inc. boosted its holdings in Bank of Montreal by 3,375.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock worth $41,000 after purchasing an additional 405 shares in the last quarter. Headlands Technologies LLC bought a new stake in Bank of Montreal in the fourth quarter worth $44,000. EverSource Wealth Advisors LLC increased its position in Bank of Montreal by 39.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock worth $46,000 after buying an additional 130 shares during the last quarter. Finally, IAG Wealth Partners LLC raised its holdings in Bank of Montreal by 117.5% during the fourth quarter. IAG Wealth Partners LLC now owns 496 shares of the bank’s stock valued at $49,000 after buying an additional 268 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Analyst Upgrades and Downgrades

BMO has been the topic of a number of recent analyst reports. Desjardins downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Keefe, Bruyette & Woods cut shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $137.00 to $124.00 in a research note on Monday, June 3rd. StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. Finally, Barclays initiated coverage on shares of Bank of Montreal in a research report on Wednesday, March 20th. They set an “overweight” rating for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.50.

Bank of Montreal Trading Down 1.3 %

Shares of Bank of Montreal stock opened at $83.30 on Friday. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $100.12. The company’s fifty day simple moving average is $89.88 and its 200-day simple moving average is $93.03. The company has a market cap of $60.75 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.10 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 29th. The bank reported $1.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.10). The company had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.96 billion. Bank of Montreal had a return on equity of 11.60% and a net margin of 8.25%. As a group, sell-side analysts expect that Bank of Montreal will post 7.91 EPS for the current year.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be issued a $1.125 dividend. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Tuesday, July 30th. This represents a $4.50 annualized dividend and a yield of 5.40%. Bank of Montreal’s dividend payout ratio is 74.58%.

Bank of Montreal Company 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.