Bank of Montreal (BMO) Stake Lessened by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lowered its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 37.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 120,031 shares of the bank’s stock after selling 70,372 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Bank of Montreal were worth $9,901,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BMO. BDO Wealth Advisors LLC purchased a new position in Bank of Montreal in the 2nd quarter valued at $105,000. AdvisorNet Financial Inc lifted its holdings in Bank of Montreal by 148.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,526 shares of the bank’s stock valued at $118,000 after purchasing an additional 911 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in Bank of Montreal in the 3rd quarter valued at $142,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Bank of Montreal in the 2nd quarter valued at $155,000. Finally, Columbia Asset Management purchased a new position in Bank of Montreal in the 3rd quarter valued at $161,000. Institutional investors own 43.67% of the company’s stock.

A number of analysts have issued reports on the company. Zacks Investment Research downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Friday, November 9th. Canaccord Genuity reaffirmed a “buy” rating on shares of Bank of Montreal in a research note on Thursday. Barclays reaffirmed a “hold” rating on shares of Bank of Montreal in a research note on Friday, November 16th. Finally, ValuEngine downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $104.67.

Shares of Bank of Montreal stock opened at $73.83 on Friday. Bank of Montreal has a 12 month low of $72.53 and a 12 month high of $84.71. The stock has a market cap of $47.28 billion, a P/E ratio of 11.83, a PEG ratio of 1.22 and a beta of 1.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.16 and a quick ratio of 1.16.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, August 28th. The bank reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.07. Bank of Montreal had a return on equity of 14.75% and a net margin of 16.17%. The company had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.45 billion. As a group, equities analysts expect that Bank of Montreal will post 6.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Investors of record on Thursday, November 1st will be issued a dividend of $0.7386 per share. This represents a $2.95 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Wednesday, October 31st. Bank of Montreal’s dividend payout ratio (DPR) is 46.79%.

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Bank of Montreal Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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