Bank of Montreal (NYSE:BMO) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 0.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,631,618 shares of the bank’s stock after acquiring an additional 2,248 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.22% of Bank of Montreal worth $147,172,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in BMO. Intech Investment Management LLC raised its holdings in shares of Bank of Montreal by 3.7% in the 3rd quarter. Intech Investment Management LLC now owns 107,096 shares of the bank’s stock worth $9,675,000 after purchasing an additional 3,815 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. lifted its position in shares of Bank of Montreal by 4.1% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 214,070 shares of the bank’s stock valued at $19,315,000 after acquiring an additional 8,493 shares during the last quarter. West Family Investments Inc. bought a new stake in shares of Bank of Montreal during the 3rd quarter worth $214,000. Vertex Planning Partners LLC acquired a new position in shares of Bank of Montreal in the 3rd quarter worth $4,053,000. Finally, Caprock Group LLC raised its position in shares of Bank of Montreal by 8.7% during the third quarter. Caprock Group LLC now owns 3,046 shares of the bank’s stock worth $275,000 after purchasing an additional 244 shares during the period. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Trading Up 0.3 %

Bank of Montreal stock opened at $94.92 on Friday. Bank of Montreal has a one year low of $76.98 and a one year high of $100.12. The company’s fifty day moving average price is $91.87 and its two-hundred day moving average price is $88.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $69.25 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 2.56 and a beta of 1.10.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). The company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $8.25 billion. Bank of Montreal had a net margin of 8.50% and a return on equity of 11.23%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 EPS. On average, analysts forecast that Bank of Montreal will post 7.4 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be paid a $1.123 dividend. This represents a $4.49 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s payout ratio is 72.13%.

Analyst Ratings Changes

BMO has been the topic of a number of analyst reports. Bank of America cut Bank of Montreal from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $134.00 to $117.00 in a research note on Wednesday, August 28th. Scotiabank lowered shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $123.00 to $112.00 in a report on Wednesday, August 28th. TD Securities downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Royal Bank of Canada cut Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. Finally, Barclays cut their target price on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $119.75.

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.