Lombard Odier Asset Management Europe Ltd Cuts Stock Position in Bank of Montreal (NYSE:BMO)

Lombard Odier Asset Management Europe Ltd lessened its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 35.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,494 shares of the bank’s stock after selling 11,462 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Bank of Montreal were worth $1,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Principal Securities Inc. bought a new position in Bank of Montreal during the fourth quarter valued at about $33,000. Rothschild Investment LLC bought a new position in shares of Bank of Montreal during the 2nd quarter valued at approximately $40,000. EverSource Wealth Advisors LLC increased its stake in shares of Bank of Montreal by 39.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock worth $46,000 after purchasing an additional 130 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of Bank of Montreal in the 2nd quarter worth approximately $59,000. Finally, Ridgewood Investments LLC purchased a new position in Bank of Montreal in the second quarter valued at approximately $65,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BMO shares. Keefe, Bruyette & Woods downgraded Bank of Montreal from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $137.00 to $124.00 in a research report on Monday, June 3rd. UBS Group began coverage on Bank of Montreal in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. Barclays dropped their price objective on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, Scotiabank lowered shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $123.00 to $112.00 in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of Montreal presently has an average rating of “Hold” and an average target price of $119.75.

Bank of Montreal Trading Up 0.1 %

Shares of BMO stock opened at $89.99 on Tuesday. The company’s fifty day simple moving average is $84.87 and its two-hundred day simple moving average is $88.76. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $100.12. The stock has a market capitalization of $65.63 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 2.32 and a beta of 1.11.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). Bank of Montreal had a net margin of 8.50% and a return on equity of 11.23%. The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the previous year, the firm earned $2.08 EPS. The company’s revenue was up .2% compared to the same quarter last year. As a group, analysts anticipate that Bank of Montreal will post 8.06 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be given a dividend of $1.123 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $4.49 dividend on an annualized basis and a dividend yield of 4.99%. Bank of Montreal’s dividend payout ratio (DPR) is currently 76.25%.

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.