Pennsylvania Trust Co Lowers Stake in Bank of Montreal (NYSE:BMO)

Pennsylvania Trust Co cut its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 6.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,525 shares of the bank’s stock after selling 300 shares during the quarter. Pennsylvania Trust Co’s holdings in Bank of Montreal were worth $338,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BMO. Vanguard Group Inc lifted its stake in Bank of Montreal by 2.7% in the third quarter. Vanguard Group Inc now owns 16,878,668 shares of the bank’s stock valued at $1,392,996,000 after acquiring an additional 444,234 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Bank of Montreal by 3.5% in the fourth quarter. Toronto Dominion Bank now owns 14,272,847 shares of the bank’s stock worth $934,664,000 after buying an additional 476,562 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Bank of Montreal by 18.4% in the fourth quarter. Mackenzie Financial Corp now owns 8,071,323 shares of the bank’s stock worth $527,461,000 after buying an additional 1,251,940 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of Bank of Montreal by 2.2% in the fourth quarter. Bank of Nova Scotia now owns 7,756,827 shares of the bank’s stock worth $506,908,000 after buying an additional 164,518 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Bank of Montreal by 3.3% in the fourth quarter. Acadian Asset Management LLC now owns 7,352,895 shares of the bank’s stock worth $480,159,000 after buying an additional 237,961 shares during the last quarter. Institutional investors own 44.33% of the company’s stock.

Several equities analysts recently commented on the stock. ValuEngine upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Zacks Investment Research raised shares of Bank of Montreal from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Monday, March 4th. Bank of America lowered shares of Bank of Montreal from a “neutral” rating to an “underperform” rating in a report on Monday, January 28th. Finally, Barclays reissued a “hold” rating on shares of Bank of Montreal in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Bank of Montreal has a consensus rating of “Hold” and an average price target of $105.33.

NYSE:BMO traded down $0.54 during mid-day trading on Wednesday, reaching $77.45. 251,674 shares of the company were exchanged, compared to its average volume of 490,432. Bank of Montreal has a 12 month low of $62.79 and a 12 month high of $84.36. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The firm has a market cap of $49.82 billion, a P/E ratio of 11.08, a P/E/G ratio of 2.23 and a beta of 1.18.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, February 26th. The bank reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.06. The company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.61 billion. Bank of Montreal had a net margin of 17.43% and a return on equity of 14.89%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.12 EPS. As a group, equities analysts predict that Bank of Montreal will post 7.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Wednesday, May 1st will be given a $0.762 dividend. This represents a $3.05 dividend on an annualized basis and a dividend yield of 3.94%. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Tuesday, April 30th. Bank of Montreal’s dividend payout ratio (DPR) is currently 42.78%.

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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, 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, as well as wealth management products and services, such as insurance products.

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

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