The Manufacturers Life Insurance Company cut its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,224,796 shares of the bank’s stock after selling 106,549 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Bank of Montreal were worth $258,049,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BMO. Voya Investment Management LLC increased its position in shares of Bank of Montreal by 8.5% during the second quarter. Voya Investment Management LLC now owns 3,443 shares of the bank’s stock valued at $252,000 after buying an additional 270 shares during the period. QS Investors LLC increased its position in shares of Bank of Montreal by 47.3% during the second quarter. QS Investors LLC now owns 4,672 shares of the bank’s stock valued at $343,000 after buying an additional 1,500 shares during the period. Gotham Asset Management LLC bought a new stake in shares of Bank of Montreal during the second quarter valued at about $271,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Bank of Montreal by 1.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 27,828 shares of the bank’s stock valued at $2,044,000 after buying an additional 287 shares during the period. Finally, Advisory Services Network LLC increased its position in shares of Bank of Montreal by 409.1% during the second quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock valued at $115,000 after buying an additional 1,260 shares during the period. Hedge funds and other institutional investors own 42.87% of the company’s stock.

Bank of Montreal (BMO) opened at $76.41 on Wednesday. Bank of Montreal has a twelve month low of $66.75 and a twelve month high of $84.71. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $49,512.60, a PE ratio of 12.65, a PEG ratio of 1.62 and a beta of 1.04.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, December 5th. The bank reported $1.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by ($0.03). Bank of Montreal had a return on equity of 14.11% and a net margin of 19.00%. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.25 billion. research analysts forecast that Bank of Montreal will post 6.84 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 1st will be issued a dividend of $0.733 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $2.93 annualized dividend and a dividend yield of 3.84%. Bank of Montreal’s payout ratio is presently 48.43%.

BMO has been the topic of several analyst reports. Zacks Investment Research cut Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Scotiabank reiterated a “buy” rating and set a $112.00 price target on shares of Bank of Montreal in a research report on Wednesday, November 22nd. Macquarie initiated coverage on Bank of Montreal in a research report on Tuesday, October 24th. They set a “neutral” rating and a $81.00 price target on the stock. Finally, Canaccord Genuity reiterated a “hold” rating and set a $105.00 price target on shares of Bank of Montreal in a research report on Tuesday, December 5th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $98.60.

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Bank of Montreal Profile

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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