Pinnacle Financial Partners Inc Has $13.65 Million Stock Position in Bank of Montreal (NYSE:BMO)

Pinnacle Financial Partners Inc trimmed its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 20.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,691 shares of the bank’s stock after selling 37,197 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Bank of Montreal were worth $13,654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMO. CWM LLC boosted its holdings in Bank of Montreal by 54.0% during the third quarter. CWM LLC now owns 1,318 shares of the bank’s stock worth $119,000 after buying an additional 462 shares during the last quarter. Creative Planning lifted its holdings in shares of Bank of Montreal by 16.8% during the 3rd quarter. Creative Planning now owns 34,231 shares of the bank’s stock valued at $3,088,000 after purchasing an additional 4,918 shares in the last quarter. Blue Trust Inc. lifted its holdings 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 valued at $56,000 after purchasing an additional 451 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Bank of Montreal by 3.6% during the 3rd quarter. Signaturefd LLC now owns 8,894 shares of the bank’s stock valued at $802,000 after purchasing an additional 313 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of Bank of Montreal by 3.2% during the 3rd quarter. Private Advisor Group LLC now owns 21,094 shares of the bank’s stock valued at $1,903,000 after purchasing an additional 662 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Down 0.4 %

Shares of NYSE:BMO opened at $100.53 on Friday. The business’s 50 day simple moving average is $98.65 and its two-hundred day simple moving average is $93.22. The firm has a market cap of $73.27 billion, a P/E ratio of 14.40, a PEG ratio of 1.43 and a beta of 1.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $104.63.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be given a dividend of $1.1329 per share. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.51%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal’s dividend payout ratio (DPR) is presently 63.18%.

Analyst Upgrades and Downgrades

BMO has been the topic of a number of recent research reports. Scotiabank raised Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, December 6th. StockNews.com lowered Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday. CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $133.00 to $161.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.