Bank of Montreal (NYSE:BMO) Shares Purchased by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC grew its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 62.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,738 shares of the bank’s stock after purchasing an additional 1,439 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Bank of Montreal were worth $313,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Principal Securities Inc. acquired a new stake in Bank of Montreal in the 4th quarter valued at about $33,000. Principal Financial Group Inc. lifted its position in Bank of Montreal by 51.2% during the fourth quarter. Principal Financial Group Inc. now owns 25,200 shares of the bank’s stock worth $2,506,000 after buying an additional 8,528 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in Bank of Montreal during the fourth quarter worth $239,000. Massachusetts Financial Services Co. MA grew its holdings in Bank of Montreal by 2.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,548,393 shares of the bank’s stock valued at $153,198,000 after buying an additional 42,027 shares in the last quarter. Finally, Vise Technologies Inc. increased its stake in shares of Bank of Montreal by 14.3% in the 4th quarter. Vise Technologies Inc. now owns 3,495 shares of the bank’s stock worth $346,000 after acquiring an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their price target for the company from $134.00 to $117.00 in a research report on Wednesday, August 28th. Barclays cut their price target 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. Royal Bank of Canada cut Bank of Montreal from an “outperform” rating to a “sector perform” rating in a report on Tuesday, July 30th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Finally, Desjardins lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $119.75.

Bank of Montreal Stock Performance

NYSE BMO opened at $82.91 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $60.46 billion, a P/E ratio of 13.77, a P/E/G ratio of 2.26 and a beta of 1.11. The stock has a 50-day moving average of $84.50 and a two-hundred day moving average of $89.03. Bank of Montreal has a 1-year low of $73.98 and a 1-year high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its 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). Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The business had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the previous year, the company earned $2.08 earnings per share. Bank of Montreal’s quarterly revenue was up .2% on a year-over-year basis. As a group, analysts anticipate that Bank of Montreal will post 8.06 EPS for the current year.

Bank of Montreal Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be given a dividend of $1.123 per share. The ex-dividend date is Wednesday, October 30th. This represents a $4.49 annualized dividend and a dividend yield of 5.42%. Bank of Montreal’s dividend payout ratio (DPR) is currently 74.58%.

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.