Bank of Montreal (NYSE:BMO) Shares Sold by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. trimmed its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,286,702 shares of the bank’s stock after selling 11,925 shares during the quarter. Bank of Montreal accounts for approximately 4.2% of Cardinal Capital Management Inc.’s portfolio, making the stock its 6th largest holding. Cardinal Capital Management Inc.’s holdings in Bank of Montreal were worth $124,632,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new position in Bank of Montreal in the second quarter valued at approximately $34,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bank of Montreal in the third quarter worth $45,000. GHP Investment Advisors Inc. raised its stake in shares of Bank of Montreal by 244.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after acquiring an additional 393 shares during the period. Blue Trust Inc. lifted its holdings in shares of Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after acquiring an additional 451 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Bank of Montreal by 47.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank’s stock worth $66,000 after purchasing an additional 219 shares during the period. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. CIBC upgraded Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. Cibc World Mkts raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. StockNews.com lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Tuesday, December 17th. Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $133.00 to $161.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bank of Montreal currently has an average rating of “Hold” and an average target price of $128.00.

Bank of Montreal Stock Down 0.0 %

Shares of Bank of Montreal stock opened at $100.16 on Thursday. The business has a 50-day moving average price of $97.11 and a 200 day moving average price of $91.04. Bank of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $104.63. The firm has a market cap of $73.11 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.41 and a beta of 1.09. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be issued a $1.1329 dividend. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.52%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal’s payout ratio is 65.62%.

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.