Intrust Bank NA Invests $216,000 in Bank of Montreal (NYSE:BMO)

Intrust Bank NA acquired a new position in Bank of Montreal (NYSE:BMO) (TSE:BMO) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,229 shares of the bank’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BMO. Passumpsic Savings Bank increased its holdings in shares of Bank of Montreal by 2.1% in the 3rd quarter. Passumpsic Savings Bank now owns 5,142 shares of the bank’s stock worth $464,000 after buying an additional 105 shares during the last quarter. D.A. Davidson & CO. increased its stake in Bank of Montreal by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank’s stock valued at $776,000 after acquiring an additional 113 shares during the last quarter. Valeo Financial Advisors LLC raised its position in Bank of Montreal by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,865 shares of the bank’s stock valued at $278,000 after purchasing an additional 125 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in Bank of Montreal by 2.0% during the fourth quarter. Wealthspire Advisors LLC now owns 6,355 shares of the bank’s stock worth $617,000 after purchasing an additional 125 shares during the last quarter. Finally, Caprock Group LLC boosted its holdings in shares of Bank of Montreal by 4.6% in the 4th quarter. Caprock Group LLC now owns 3,185 shares of the bank’s stock worth $309,000 after purchasing an additional 139 shares in the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Bank of Montreal Stock Down 1.8 %

NYSE BMO opened at $95.26 on Monday. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $106.00. The stock has a market capitalization of $69.26 billion, a PE ratio of 13.65, a PEG ratio of 1.43 and a beta of 1.07. 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 business’s 50-day moving average is $99.30 and its 200 day moving average is $95.97.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $1.36. The firm had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $8.58 billion. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The business’s revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.56 earnings per share. Sell-side analysts forecast that Bank of Montreal will post 7.71 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be issued a $1.1094 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 annualized dividend and a yield of 4.66%. Bank of Montreal’s dividend payout ratio (DPR) is presently 57.09%.

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.