Retirement Wealth Solutions LLC Acquires New Position in Bank of Montreal (NYSE:BMO)

Retirement Wealth Solutions LLC bought a new position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 1,086 shares of the bank’s stock, valued at approximately $106,000.

Other large investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Bank of Montreal in the second quarter valued at about $34,000. Wilmington Savings Fund Society FSB purchased a new position in Bank of Montreal in the third quarter valued at about $45,000. GHP Investment Advisors Inc. lifted its position in shares of Bank of Montreal by 244.1% during 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. boosted its stake 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 worth $56,000 after acquiring an additional 451 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Bank of Montreal by 44.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,103 shares of the bank’s stock worth $99,000 after acquiring an additional 342 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Bank of Montreal Stock Performance

Bank of Montreal stock opened at $98.99 on Friday. The stock has a fifty day moving average price of $96.63 and a 200 day moving average price of $90.56. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $104.63. The firm has a market capitalization of $72.26 billion, a P/E ratio of 14.18, a PEG ratio of 1.37 and a beta of 1.09. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be paid a dividend of $1.1329 per share. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.58%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s dividend payout ratio is currently 63.18%.

Bank of Montreal Company 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.