Rathbones Group PLC Has $4.11 Million Stake in Bank of Montreal (NYSE:BMO)

Rathbones Group PLC trimmed its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 1.0% during the second quarter, HoldingsChannel.com reports. The firm owned 48,913 shares of the bank’s stock after selling 500 shares during the quarter. Rathbones Group PLC’s holdings in Bank of Montreal were worth $4,105,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Principal Securities Inc. acquired a new stake in Bank of Montreal in the 4th quarter valued at approximately $33,000. Rothschild Investment LLC bought a new position in shares of Bank of Montreal during the 2nd quarter worth approximately $40,000. EverSource Wealth Advisors LLC raised its holdings in shares of Bank of Montreal by 39.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock valued at $46,000 after purchasing an additional 130 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of Bank of Montreal in the second quarter worth $59,000. Finally, IAG Wealth Partners LLC boosted its holdings in Bank of Montreal by 28.0% during the first quarter. IAG Wealth Partners LLC now owns 635 shares of the bank’s stock worth $62,000 after purchasing an additional 139 shares during the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank of Montreal Trading Up 0.5 %

Shares of Bank of Montreal stock opened at $85.56 on Monday. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $100.12. The company has a market capitalization of $62.40 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 2.32 and a beta of 1.11. The business has a fifty day simple moving average of $84.53 and a two-hundred day simple moving average of $88.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.12). The company had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 EPS. Research analysts forecast that Bank of Montreal will post 8.06 EPS for the current year.

Bank of Montreal Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be paid a $1.123 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $4.49 annualized dividend and a yield of 5.25%. Bank of Montreal’s dividend payout ratio (DPR) is presently 76.25%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Jefferies Financial Group lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $134.00 to $117.00 in a research report on Wednesday, August 28th. Royal Bank of Canada downgraded Bank of Montreal from an “outperform” rating to a “sector perform” rating in a report on Tuesday, July 30th. UBS Group began coverage on shares of Bank of Montreal in a report on Tuesday, July 2nd. They set a “neutral” rating on the stock. Finally, StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $119.75.

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.