FDx Advisors Inc. Trims Holdings in Bank of Montreal (BMO)

FDx Advisors Inc. cut its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 45.1% in the third quarter, HoldingsChannel.com reports. The firm owned 4,044 shares of the bank’s stock after selling 3,326 shares during the period. FDx Advisors Inc.’s holdings in Bank of Montreal were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. BDO Wealth Advisors LLC bought a new stake in Bank of Montreal in the 2nd quarter valued at $105,000. Columbia Asset Management bought a new stake in Bank of Montreal in the 3rd quarter valued at $161,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Bank of Montreal in the 2nd quarter valued at $155,000. Zions Bancorporation bought a new stake in Bank of Montreal in the 3rd quarter valued at $175,000. Finally, Clearwater Capital Advisors LLC bought a new stake in Bank of Montreal in the 3rd quarter valued at $202,000. 43.89% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on BMO shares. Barclays reaffirmed a “hold” rating on shares of Bank of Montreal in a report on Friday, November 16th. TD Securities downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Cormark downgraded shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $115.00 to $109.00 in a report on Wednesday. Finally, Zacks Investment Research downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Bank of Montreal presently has a consensus rating of “Hold” and a consensus price target of $106.00.

NYSE:BMO opened at $70.23 on Friday. The stock has a market cap of $45.93 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 1.67 and a beta of 1.11. Bank of Montreal has a 52 week low of $69.00 and a 52 week high of $84.71. The company has a quick ratio of 1.16, a current ratio of 1.17 and a debt-to-equity ratio of 0.16.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, December 4th. The bank reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.57. The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.61 billion. Bank of Montreal had a net margin of 16.91% and a return on equity of 14.97%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $1.94 EPS. On average, equities research analysts expect that Bank of Montreal will post 7.24 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Friday, February 1st will be issued a dividend of $0.753 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.29%. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.74. The ex-dividend date is Thursday, January 31st. Bank of Montreal’s dividend payout ratio (DPR) is presently 41.77%.

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About Bank of Montreal

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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