Crewe Advisors LLC Purchases Shares of 715 Bank of Montreal (NYSE:BMO)

Crewe Advisors LLC bought a new stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 715 shares of the bank’s stock, valued at approximately $70,000.

Several other hedge funds also recently modified their holdings of BMO. Raymond James & Associates increased its position in shares of Bank of Montreal by 1.7% during the 4th quarter. Raymond James & Associates now owns 84,492 shares of the bank’s stock worth $8,360,000 after purchasing an additional 1,409 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Bank of Montreal by 1.9% in the fourth quarter. Pacer Advisors Inc. now owns 6,622 shares of the bank’s stock valued at $655,000 after buying an additional 126 shares during the last quarter. Schechter Investment Advisors LLC raised its stake in shares of Bank of Montreal by 3.8% in the fourth quarter. Schechter Investment Advisors LLC now owns 3,161 shares of the bank’s stock worth $313,000 after acquiring an additional 116 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. raised its position in Bank of Montreal by 5.0% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 6,762 shares of the bank’s stock worth $680,000 after purchasing an additional 322 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in shares of Bank of Montreal during the fourth quarter worth $77,000. 45.82% of the stock is owned by institutional investors.

Bank of Montreal Stock Down 0.0 %

NYSE:BMO traded down $0.02 during trading hours on Friday, reaching $86.96. 117,289 shares of the stock were exchanged, compared to its average volume of 784,156. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.99. Bank of Montreal has a twelve month low of $73.98 and a twelve month high of $100.12. The firm has a 50 day moving average of $87.04 and a 200 day moving average of $91.58. The stock has a market cap of $63.43 billion, a PE ratio of 14.48, a PEG ratio of 2.13 and a beta of 1.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 29th. The bank reported $1.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.10). Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. The company had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.96 billion. On average, equities analysts expect that Bank of Montreal will post 7.91 earnings per share for the current year.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be paid a $1.125 dividend. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Tuesday, July 30th. This represents a $4.50 annualized dividend and a yield of 5.17%. Bank of Montreal’s dividend payout ratio is currently 74.25%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods downgraded shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and cut their target price for the company from $137.00 to $124.00 in a research report on Monday, June 3rd. Desjardins lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, UBS Group began coverage on shares of Bank of Montreal in a research report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bank of Montreal has an average rating of “Moderate Buy” and an average target price of $127.50.

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.