Doliver Advisors LP Sells 323 Shares of Bank of Montreal (NYSE:BMO)

Doliver Advisors LP reduced its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 9.7% during the 1st quarter, Holdings Channel reports. The firm owned 3,008 shares of the bank’s stock after selling 323 shares during the period. Doliver Advisors LP’s holdings in Bank of Montreal were worth $294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BMO. Kestra Advisory Services LLC boosted its position in shares of Bank of Montreal by 27.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 8,319 shares of the bank’s stock worth $702,000 after purchasing an additional 1,778 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Bank of Montreal by 17.2% during the third quarter. Envestnet Asset Management Inc. now owns 41,457 shares of the bank’s stock worth $3,498,000 after acquiring an additional 6,071 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Bank of Montreal by 36,666.7% during the third quarter. Acadian Asset Management LLC now owns 15,442 shares of the bank’s stock worth $1,308,000 after acquiring an additional 15,400 shares in the last quarter. LPL Financial LLC lifted its holdings in Bank of Montreal by 1.8% during the third quarter. LPL Financial LLC now owns 57,865 shares of the bank’s stock worth $4,882,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Mariner LLC lifted its holdings in Bank of Montreal by 7.4% during the third quarter. Mariner LLC now owns 23,646 shares of the bank’s stock worth $1,995,000 after acquiring an additional 1,627 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Desjardins lowered Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Keefe, Bruyette & Woods lowered Bank of Montreal from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $137.00 to $124.00 in a report on Monday, June 3rd. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. Finally, Barclays initiated coverage on Bank of Montreal in a report on Wednesday, March 20th. They issued an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.50.

Bank of Montreal Price Performance

NYSE:BMO opened at $85.22 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50-day simple moving average is $90.13 and its 200 day simple moving average is $93.11. The company has a market cap of $62.15 billion, a P/E ratio of 14.16, a P/E/G ratio of 2.07 and a beta of 1.12. Bank of Montreal has a 52-week low of $73.98 and a 52-week high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, May 29th. The bank reported $1.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.10). The company had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.96 billion. Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. As a group, sell-side analysts forecast that Bank of Montreal will post 7.91 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be given a dividend of $1.125 per share. This represents a $4.50 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend is Tuesday, July 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s payout ratio is 74.25%.

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.