HB Wealth Management LLC Invests $285,000 in Bank of Montreal (NYSE:BMO)

HB Wealth Management LLC bought a new stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,936 shares of the bank’s stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Strategic Investment Solutions Inc. IL bought a new stake in Bank of Montreal in the second quarter valued at approximately $34,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Bank of Montreal during the 3rd quarter worth approximately $45,000. GHP Investment Advisors Inc. raised its stake in Bank of Montreal by 244.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after acquiring an additional 393 shares during the period. Blue Trust Inc. lifted its holdings in Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after purchasing an additional 451 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in Bank of Montreal during the fourth quarter worth $106,000. Institutional investors own 45.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Royal Bank of Canada upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $133.00 to $161.00 in a research note on Wednesday, January 8th. StockNews.com downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Tuesday, December 17th. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, CIBC upgraded Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $128.00.

Bank of Montreal Stock Up 0.8 %

Shares of BMO opened at $100.96 on Friday. Bank of Montreal has a one year low of $76.98 and a one year high of $104.63. The company has a market cap of $73.70 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.41 and a beta of 1.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $97.24 and a two-hundred day simple moving average of $91.10.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be issued a dividend of $1.1329 per share. The ex-dividend date of this dividend is Thursday, January 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a dividend yield of 4.49%. Bank of Montreal’s dividend payout ratio is 65.62%.

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.