TD Private Client Wealth LLC Purchases Shares of 22,782 Bank of Montreal (NYSE:BMO)

TD Private Client Wealth LLC purchased a new stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,782 shares of the bank’s stock, valued at approximately $2,211,000.

Other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Bank of Montreal by 6.0% in the fourth quarter. Bank of New York Mellon Corp now owns 708,767 shares of the bank’s stock valued at $68,786,000 after purchasing an additional 40,135 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bank of Montreal by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,716 shares of the bank’s stock valued at $185,694,000 after acquiring an additional 64,799 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Bank of Montreal by 58.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,618 shares of the bank’s stock valued at $448,000 after acquiring an additional 1,703 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of Bank of Montreal in the fourth quarter valued at approximately $346,000. Finally, Five Oceans Advisors bought a new position in shares of Bank of Montreal in the fourth quarter valued at approximately $327,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Trading Down 1.2 %

Bank of Montreal stock opened at $96.70 on Friday. The company has a 50 day moving average price of $99.44 and a 200 day moving average price of $95.40. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $106.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $70.30 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 1.43 and a beta of 1.07.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, February 25th. The bank reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $1.36. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The firm had revenue of $9.27 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter last year, the business posted $2.56 EPS. The company’s revenue was up 20.8% on a year-over-year basis. Research analysts forecast that Bank of Montreal will post 7.71 EPS for the current year.

Bank of Montreal Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be paid a $1.1094 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal’s dividend payout ratio is 57.09%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Friday, February 28th. CIBC upgraded shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Royal Bank of Canada raised their target price on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Finally, Scotiabank upgraded shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of Montreal has a consensus rating of “Moderate Buy” and an average target price of $128.40.

Bank of Montreal 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.