Lorne Steinberg Wealth Management Inc. Sells 301 Shares of Bank of Montreal (NYSE:BMO)

Lorne Steinberg Wealth Management Inc. lowered its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 0.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,940 shares of the bank’s stock after selling 301 shares during the period. Bank of Montreal comprises about 1.9% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 22nd biggest position. Lorne Steinberg Wealth Management Inc.’s holdings in Bank of Montreal were worth $6,686,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMO. CWM LLC grew its position in Bank of Montreal by 54.0% during the 3rd quarter. CWM LLC now owns 1,318 shares of the bank’s stock worth $119,000 after acquiring an additional 462 shares during the last quarter. Creative Planning lifted its holdings in Bank of Montreal by 16.8% during the 3rd quarter. Creative Planning now owns 34,231 shares of the bank’s stock worth $3,088,000 after buying an additional 4,918 shares during the period. Blue Trust Inc. lifted its holdings in 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 buying an additional 451 shares during the period. Signaturefd LLC lifted its holdings in Bank of Montreal by 3.6% during the 3rd quarter. Signaturefd LLC now owns 8,894 shares of the bank’s stock worth $802,000 after buying an additional 313 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in Bank of Montreal by 3.2% during the 3rd quarter. Private Advisor Group LLC now owns 21,094 shares of the bank’s stock worth $1,903,000 after buying an additional 662 shares during the period. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Up 0.2 %

Shares of NYSE:BMO opened at $101.28 on Wednesday. The company has a market capitalization of $73.93 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 1.40 and a beta of 1.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The business’s 50-day moving average is $98.58 and its 200-day moving average is $92.96. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $104.63.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be paid a dividend of $1.1329 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Thursday, January 30th. Bank of Montreal’s dividend payout ratio is 63.32%.

Analyst Ratings Changes

Several brokerages have commented on BMO. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Royal Bank of Canada raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $133.00 to $161.00 in a report on Wednesday, January 8th. StockNews.com raised Bank of Montreal from a “sell” rating to a “hold” rating in a report on Tuesday, February 11th. Scotiabank raised Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. Finally, CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $128.00.

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.