FDx Advisors Inc. Makes New Investment in Bank of Montreal (NYSE:BMO)

FDx Advisors Inc. purchased a new stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,099 shares of the bank’s stock, valued at approximately $204,000.

A number of other institutional investors also recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in Bank of Montreal in the third quarter valued at about $45,000. GHP Investment Advisors Inc. boosted its stake in shares of Bank of Montreal by 244.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after purchasing an additional 393 shares in the last quarter. Blue Trust Inc. grew 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 during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Bank of Montreal by 47.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank’s stock worth $66,000 after purchasing an additional 219 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Bank of Montreal during the 4th quarter worth approximately $76,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Royal Bank of Canada raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $133.00 to $161.00 in a research note on Wednesday, January 8th. Scotiabank raised Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. 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 research note on Friday, December 6th. Finally, StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $128.00.

Bank of Montreal Trading Down 0.4 %

NYSE BMO opened at $100.53 on Friday. The firm has a market capitalization of $73.27 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.43 and a beta of 1.09. The business’s 50-day moving average price is $98.65 and its two-hundred day moving average price is $93.22. 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 12 month low of $76.98 and a 12 month high of $104.63.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be issued a $1.1329 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a yield of 4.51%. Bank of Montreal’s dividend payout ratio is presently 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.