Vanguard Personalized Indexing Management LLC Boosts Stake in Bank of Montreal (NYSE:BMO)

Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 47.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,974 shares of the bank’s stock after buying an additional 4,826 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Bank of Montreal were worth $1,250,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BMO. Principal Securities Inc. bought a new stake in shares of Bank of Montreal in the fourth quarter worth approximately $33,000. Rothschild Investment LLC purchased a new stake in Bank of Montreal during the 2nd quarter valued at $40,000. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $46,000 after buying an additional 130 shares during the period. Olistico Wealth LLC purchased a new position in shares of Bank of Montreal in the 2nd quarter worth $59,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Bank of Montreal in the 2nd quarter worth $65,000. 45.82% of the stock is currently owned by institutional investors.

Bank of Montreal Stock Performance

Shares of NYSE BMO opened at $89.91 on Monday. 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 firm has a fifty day moving average price of $84.80 and a 200-day moving average price of $88.78. The stock has a market cap of $65.57 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 2.32 and a beta of 1.11.

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

Bank of Montreal Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be issued a $1.123 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $4.49 dividend on an annualized basis and a yield of 5.00%. Bank of Montreal’s dividend payout ratio is presently 76.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Desjardins downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $134.00 to $117.00 in a report on Wednesday, August 28th. Barclays reduced their target price 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. StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Finally, UBS Group started coverage on shares of Bank of Montreal in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Bank of Montreal has an average rating of “Hold” and a consensus price target of $119.75.

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.