Orion Portfolio Solutions LLC Acquires 204 Shares of Bank of Montreal (NYSE:BMO)

Orion Portfolio Solutions LLC raised its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,771 shares of the bank’s stock after buying an additional 204 shares during the period. Orion Portfolio Solutions LLC’s holdings in Bank of Montreal were worth $430,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL bought a new stake in shares of Bank of Montreal during the 2nd quarter worth about $34,000. Rothschild Investment LLC bought a new stake in shares of Bank of Montreal during the second quarter worth approximately $40,000. GHP Investment Advisors Inc. boosted its holdings in shares of Bank of Montreal by 244.1% during the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after acquiring an additional 393 shares during the period. Blue Trust Inc. grew its position in shares of Bank of Montreal by 207.8% in the third 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, Ridgewood Investments LLC bought a new position in shares of Bank of Montreal during the second quarter worth approximately $65,000. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank of Montreal Trading Down 2.5 %

Shares of Bank of Montreal stock opened at $95.71 on Thursday. The firm’s 50 day moving average is $94.67 and its 200 day moving average is $88.78. The firm has a market capitalization of $69.84 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.42 and a beta of 1.10. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $104.63. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be paid a dividend of $1.1329 per share. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date is Thursday, January 30th. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s payout ratio is presently 67.34%.

Wall Street Analyst Weigh In

A number of brokerages have commented on BMO. StockNews.com lowered Bank of Montreal from a “hold” rating to a “sell” rating in a report on Tuesday. TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Barclays cut their price objective 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. Jefferies Financial Group lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and dropped their price target for the company from $134.00 to $117.00 in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $122.40.

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.