Lindbrook Capital LLC Has $266,000 Stake in Bank of Montreal (NYSE:BMO)

Lindbrook Capital LLC lifted its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,745 shares of the bank’s stock after acquiring an additional 155 shares during the quarter. Lindbrook Capital LLC’s holdings in Bank of Montreal were worth $266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BMO. Farther Finance Advisors LLC increased its position in shares of Bank of Montreal by 44.9% in the third quarter. Farther Finance Advisors LLC now owns 1,103 shares of the bank’s stock valued at $99,000 after acquiring an additional 342 shares during the last quarter. Gold Investment Management Ltd. increased its position in shares of Bank of Montreal by 1.3% in the third quarter. Gold Investment Management Ltd. now owns 20,905 shares of the bank’s stock valued at $1,888,000 after acquiring an additional 268 shares during the last quarter. Fiera Capital Corp increased its position in shares of Bank of Montreal by 1.5% in the third quarter. Fiera Capital Corp now owns 3,453,718 shares of the bank’s stock valued at $312,054,000 after acquiring an additional 50,287 shares during the last quarter. Townsend & Associates Inc acquired a new stake in shares of Bank of Montreal in the third quarter valued at about $208,000. Finally, Patten & Patten Inc. TN acquired a new stake in shares of Bank of Montreal in the third quarter valued at about $210,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Trading Up 0.5 %

Shares of NYSE:BMO opened at $98.58 on Friday. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $106.00. The stock has a market cap of $71.85 billion, a PE ratio of 14.12, a P/E/G ratio of 1.43 and a beta of 1.07. The business has a 50 day moving average of $99.47 and a 200-day moving average of $94.49. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $1.36. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The company had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $8.58 billion. During the same quarter in the previous year, the company posted $2.56 earnings per share. The business’s revenue was up 20.8% on a year-over-year basis. As a group, equities research analysts forecast that Bank of Montreal will post 7.71 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be given a $1.1094 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 4.50%. Bank of Montreal’s payout ratio is 57.09%.

Analyst Upgrades and Downgrades

BMO has been the topic of a number of recent research reports. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” 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 report on Friday, December 6th. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, Royal Bank of Canada lifted their price target on Bank of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Bank of Montreal currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.40.

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.