Cwm LLC Acquires 462 Shares of Bank of Montreal (NYSE:BMO)

Cwm LLC increased its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 54.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,318 shares of the bank’s stock after acquiring an additional 462 shares during the quarter. Cwm LLC’s holdings in Bank of Montreal were worth $119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in Bank of Montreal in the second quarter worth about $34,000. Rothschild Investment LLC purchased a new position in shares of Bank of Montreal during the second quarter valued at approximately $40,000. EverSource Wealth Advisors LLC boosted its position in shares of Bank of Montreal by 34.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock worth $56,000 after purchasing an additional 160 shares in the last quarter. Olistico Wealth LLC purchased a new stake in shares of Bank of Montreal in the 2nd quarter worth approximately $59,000. Finally, Crewe Advisors LLC bought a new position in Bank of Montreal during the 1st quarter valued at approximately $70,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on BMO shares. Scotiabank downgraded Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $123.00 to $112.00 in a report on Wednesday, August 28th. Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and cut their price objective for the company from $134.00 to $117.00 in a research report on Wednesday, August 28th. Royal Bank of Canada cut shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a report on Tuesday, July 30th. StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Bank of Montreal presently has a consensus rating of “Hold” and a consensus target price of $119.75.

Bank of Montreal Price Performance

BMO opened at $92.78 on Friday. The company’s 50-day simple moving average is $88.34 and its two-hundred day simple moving average is $88.22. Bank of Montreal has a 52-week low of $73.98 and a 52-week high of $100.12. The stock has a market capitalization of $67.66 billion, a P/E ratio of 15.41, a P/E/G ratio of 2.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98.

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

Bank of Montreal Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be paid 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 dividend yield of 4.84%. Bank of Montreal’s dividend payout ratio (DPR) is currently 76.08%.

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.