Bank of Montreal (NYSE:BMO) is Cardinal Capital Management Inc.’s 6th Largest Position

Cardinal Capital Management Inc. lessened its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,286,702 shares of the bank’s stock after selling 11,925 shares during the quarter. Bank of Montreal accounts for about 4.2% of Cardinal Capital Management Inc.’s holdings, making the stock its 6th biggest position. Cardinal Capital Management Inc. owned approximately 0.18% of Bank of Montreal worth $124,632,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Passumpsic Savings Bank boosted its stake in shares of Bank of Montreal by 2.1% during the 3rd quarter. Passumpsic Savings Bank now owns 5,142 shares of the bank’s stock worth $464,000 after acquiring an additional 105 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Bank of Montreal by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank’s stock valued at $776,000 after purchasing an additional 113 shares during the last quarter. Boltwood Capital Management increased its position in shares of Bank of Montreal by 3.1% in the third quarter. Boltwood Capital Management now owns 4,125 shares of the bank’s stock valued at $372,000 after buying an additional 125 shares in the last quarter. Harbour Trust & Investment Management Co raised its stake in shares of Bank of Montreal by 2.8% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 6,340 shares of the bank’s stock worth $572,000 after buying an additional 172 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Bank of Montreal by 4.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,771 shares of the bank’s stock worth $430,000 after buying an additional 204 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BMO shares. StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Tuesday, December 17th. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Scotiabank raised Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, December 6th. CIBC upgraded Bank of Montreal from a “neutral” 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 lifted their price objective for the stock from $133.00 to $161.00 in a research report on Wednesday, January 8th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $128.00.

Bank of Montreal Stock Performance

Bank of Montreal stock opened at $100.16 on Thursday. The stock has a fifty day moving average price of $97.11 and a 200 day moving average price of $91.04. 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 has a 52 week low of $76.98 and a 52 week high of $104.63. The firm has a market capitalization of $73.11 billion, a P/E ratio of 14.35, a PEG ratio of 1.41 and a beta of 1.09.

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 issued a dividend of $1.1329 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal’s dividend payout ratio is presently 65.62%.

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.