Retirement Wealth Solutions LLC Invests $106,000 in Bank of Montreal (NYSE:BMO)

Retirement Wealth Solutions LLC purchased a new stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,086 shares of the bank’s stock, valued at approximately $106,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new position in Bank of Montreal in the second quarter valued at approximately $34,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Bank of Montreal in the 3rd quarter valued at $45,000. GHP Investment Advisors Inc. grew its holdings in shares of Bank of Montreal by 244.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after purchasing an additional 393 shares during the period. Blue Trust Inc. increased its position 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 worth $56,000 after purchasing an additional 451 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Bank of Montreal by 44.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,103 shares of the bank’s stock valued at $99,000 after buying an additional 342 shares during the period. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Trading Down 0.2 %

NYSE BMO opened at $98.99 on Friday. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $104.63. The company has a market capitalization of $72.26 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s fifty day moving average price is $96.63 and its 200 day moving average price is $90.56.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be given a dividend of $1.1329 per share. This represents a $4.53 dividend on an annualized basis and a yield of 4.58%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Thursday, January 30th. Bank of Montreal’s dividend payout ratio (DPR) is presently 63.18%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Scotiabank raised Bank of Montreal from a “sector perform” rating to a “sector outperform” 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 research note on Friday, December 6th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $133.00 to $161.00 in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Bank of Montreal currently has a consensus rating of “Hold” and an average target price of $128.00.

About Bank of Montreal

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.