Rhumbline Advisers Acquires 146 Shares of Bank of Montreal (NYSE:BMO)

Rhumbline Advisers raised its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,049 shares of the bank’s stock after acquiring an additional 146 shares during the period. Rhumbline Advisers’ holdings in Bank of Montreal were worth $102,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Bank of Montreal during the third quarter worth $45,000. MassMutual Private Wealth & Trust FSB boosted its position in Bank of Montreal by 47.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank’s stock worth $66,000 after acquiring an additional 219 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in Bank of Montreal during the fourth quarter worth about $76,000. Blue Trust Inc. raised its stake in shares of Bank of Montreal by 55.2% in the 4th quarter. Blue Trust Inc. now owns 1,037 shares of the bank’s stock valued at $94,000 after acquiring an additional 369 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of Montreal in the 4th quarter valued at approximately $106,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank of Montreal Stock Performance

BMO stock opened at $97.70 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $71.21 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.43 and a beta of 1.07. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $106.00. The firm has a 50 day moving average of $99.49 and a two-hundred day moving average of $94.67.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, February 25th. The bank reported $3.04 EPS for the quarter, beating the consensus estimate of $1.68 by $1.36. The firm had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.56 EPS. As a group, equities analysts anticipate that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be paid a dividend of $1.1094 per share. This represents a $4.44 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal’s payout ratio is 57.09%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Royal Bank of Canada upped their price objective on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Scotiabank upgraded shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. CIBC upgraded shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.40.

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.