Charles Schwab Investment Management Inc. Has $167.02 Million Stock Position in Bank of Montreal (NYSE:BMO)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,848,917 shares of the bank’s stock after buying an additional 103,495 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.25% of Bank of Montreal worth $167,017,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Signaturefd LLC increased its holdings in shares of Bank of Montreal by 1.5% during the 2nd quarter. Signaturefd LLC now owns 8,581 shares of the bank’s stock worth $720,000 after acquiring an additional 123 shares during the last quarter. Boltwood Capital Management raised its position in shares of Bank of Montreal by 3.1% in the third quarter. Boltwood Capital Management now owns 4,125 shares of the bank’s stock valued at $372,000 after purchasing an additional 125 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Bank of Montreal by 4.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,580 shares of the bank’s stock worth $300,000 after buying an additional 151 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 160 shares during the period. Finally, Whittier Trust Co. grew its stake in Bank of Montreal by 17.9% in the 2nd quarter. Whittier Trust Co. now owns 1,092 shares of the bank’s stock valued at $92,000 after buying an additional 166 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

BMO has been the subject of several research reports. TD Securities downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Royal Bank of Canada downgraded shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. Jefferies Financial Group cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, Barclays decreased their target price on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $119.75.

Bank of Montreal Trading Up 0.3 %

NYSE BMO opened at $94.92 on Monday. The company has a market cap of $69.25 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 2.56 and a beta of 1.10. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $100.12. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average is $91.87 and its 200 day moving average is $88.22.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.12). The firm had revenue of $8.21 billion for 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% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 earnings per share. As a group, sell-side analysts expect that Bank of Montreal will post 7.4 EPS 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. Stockholders of record on Wednesday, October 30th will be paid a dividend of $1.123 per share. This represents a $4.49 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s payout ratio is currently 72.13%.

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.