Choreo LLC Makes New Investment in Bank of Montreal (NYSE:BMO)

Choreo LLC purchased a new stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,128 shares of the bank’s stock, valued at approximately $206,000.

Other institutional investors have also made changes to their positions in the company. Passumpsic Savings Bank increased its stake in Bank of Montreal by 2.1% during the third quarter. Passumpsic Savings Bank now owns 5,142 shares of the bank’s stock worth $464,000 after purchasing an additional 105 shares during the period. D.A. Davidson & CO. boosted its holdings in Bank of Montreal by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank’s stock valued at $776,000 after purchasing an additional 113 shares during the period. Caprock Group LLC raised its position in Bank of Montreal by 4.6% in the 4th quarter. Caprock Group LLC now owns 3,185 shares of the bank’s stock valued at $309,000 after purchasing an additional 139 shares in the last quarter. Harbour Trust & Investment Management Co boosted its stake in shares of Bank of Montreal by 2.8% in the 3rd quarter. Harbour Trust & Investment Management Co now owns 6,340 shares of the bank’s stock valued at $572,000 after buying an additional 172 shares during the period. Finally, Boltwood Capital Management lifted its stake in Bank of Montreal by 4.2% in the fourth quarter. Boltwood Capital Management now owns 4,300 shares of the bank’s stock worth $417,000 after acquiring an additional 175 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, December 6th. CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Cibc World Mkts raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. StockNews.com raised Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $133.00 to $161.00 in a research note on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Bank of Montreal presently has a consensus rating of “Moderate Buy” and an average target price of $128.00.

Bank of Montreal Stock Up 0.6 %

Shares of NYSE BMO opened at $101.08 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $104.63. The stock has a market capitalization of $73.79 billion, a PE ratio of 14.48, a P/E/G ratio of 1.40 and a beta of 1.09. The firm has a fifty day moving average of $98.57 and a 200-day moving average of $92.55.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be given a $1.1329 dividend. The ex-dividend date is Thursday, January 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a yield of 4.48%. Bank of Montreal’s dividend payout ratio (DPR) is 63.32%.

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.