Cetera Investment Advisers Raises Stock Holdings in Bank of Montreal (NYSE:BMO)

Cetera Investment Advisers boosted its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 11.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,140 shares of the bank’s stock after purchasing an additional 1,969 shares during the period. Cetera Investment Advisers’ holdings in Bank of Montreal were worth $1,605,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Rothschild Investment LLC purchased a new position in shares of Bank of Montreal during the 2nd quarter valued at $40,000. EverSource Wealth Advisors LLC grew its position in Bank of Montreal by 34.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock worth $56,000 after acquiring an additional 160 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of Bank of Montreal in the second quarter worth $59,000. Ridgewood Investments LLC purchased a new position in shares of Bank of Montreal in the second quarter valued at about $65,000. Finally, Crewe Advisors LLC purchased a new stake in shares of Bank of Montreal during the first quarter worth about $70,000. Institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their price target for the company from $134.00 to $117.00 in a research report on Wednesday, August 28th. Scotiabank cut shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $123.00 to $112.00 in a report on Wednesday, August 28th. StockNews.com lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. UBS Group began coverage on shares of Bank of Montreal in a research note on Tuesday, July 2nd. They set a “neutral” rating on the stock. Finally, Jefferies Financial Group cut shares of 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $119.75.

Bank of Montreal Trading Up 0.6 %

NYSE:BMO opened at $93.25 on Tuesday. The firm has a market capitalization of $68.01 billion, a P/E ratio of 15.49, a PEG ratio of 2.47 and a beta of 1.11. 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 one year low of $73.98 and a one year high of $100.12. The company’s 50-day simple moving average is $86.53 and its 200 day simple moving average is $88.31.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly 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). The company had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 earnings per share. As a group, analysts forecast that Bank of Montreal will post 8.06 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

The business 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 $1.123 dividend. This represents a $4.49 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is presently 76.08%.

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.