Dana Investment Advisors Inc. Sells 2,575 Shares of Bank of Montreal (NYSE:BMO)

Dana Investment Advisors Inc. cut its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,826 shares of the bank’s stock after selling 2,575 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Bank of Montreal were worth $4,513,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC purchased a new position in Bank of Montreal during the 2nd quarter worth $40,000. EverSource Wealth Advisors LLC increased its stake in shares of Bank of Montreal by 34.6% during the first quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $56,000 after buying an additional 160 shares during the period. Olistico Wealth LLC bought a new stake in shares of Bank of Montreal in the second quarter valued at about $59,000. Crewe Advisors LLC purchased a new stake in Bank of Montreal in the first quarter worth about $70,000. Finally, Hexagon Capital Partners LLC grew its holdings in Bank of Montreal by 37.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 760 shares of the bank’s stock worth $74,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Trading Up 1.2 %

Bank of Montreal stock opened at $91.26 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $66.55 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 2.48 and a beta of 1.11. The stock has a 50-day moving average of $85.24 and a two-hundred day moving average of $88.59. Bank of Montreal has a one year low of $73.98 and a one year high of $100.12.

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

Bank of Montreal Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be given a $1.123 dividend. This represents a $4.49 annualized dividend and a dividend yield of 4.92%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal’s payout ratio is 76.25%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays reduced their price target on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $134.00 to $117.00 in a report on Wednesday, August 28th. StockNews.com downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Royal Bank of Canada cut Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $119.75.

About Bank of Montreal

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.