Silverlake Wealth Management LLC Sells 595 Shares of Bank of Montreal (NYSE:BMO)

Silverlake Wealth Management LLC lessened its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 11.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,427 shares of the bank’s stock after selling 595 shares during the period. Silverlake Wealth Management LLC’s holdings in Bank of Montreal were worth $432,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Canoe Financial LP increased its position in Bank of Montreal by 300,456.3% during the 4th quarter. Canoe Financial LP now owns 105,510,305 shares of the bank’s stock valued at $10,439,190,000 after purchasing an additional 105,475,200 shares during the period. Norges Bank bought a new position in Bank of Montreal in the fourth quarter worth approximately $812,644,000. FIL Ltd lifted its holdings in Bank of Montreal by 138.3% during the fourth quarter. FIL Ltd now owns 9,872,642 shares of the bank’s stock worth $976,870,000 after buying an additional 5,729,145 shares during the period. TD Asset Management Inc boosted its position in Bank of Montreal by 19.9% during the 4th quarter. TD Asset Management Inc now owns 19,225,705 shares of the bank’s stock valued at $1,911,635,000 after acquiring an additional 3,187,998 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new position in shares of Bank of Montreal in the 4th quarter valued at $95,299,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Price Performance

Shares of NYSE BMO opened at $84.31 on Wednesday. The company has a market cap of $61.49 billion, a PE ratio of 14.01, a P/E/G ratio of 2.08 and a beta of 1.12. Bank of Montreal has a fifty-two week low of $73.98 and a fifty-two week high of $100.12. 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 business has a 50-day simple moving average of $89.36 and a two-hundred day simple moving average of $92.92.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 29th. The bank reported $1.91 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.10). Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. The firm had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.96 billion. As a group, equities analysts expect that Bank of Montreal will post 7.91 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, July 30th will be paid a $1.125 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Tuesday, July 30th. This represents a $4.50 dividend on an annualized basis and a dividend yield of 5.34%. Bank of Montreal’s dividend payout ratio is presently 74.25%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BMO shares. Keefe, Bruyette & Woods cut Bank of Montreal from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $137.00 to $124.00 in a research note on Monday, June 3rd. UBS Group began coverage on shares of Bank of Montreal in a research report on Tuesday. They set a “neutral” rating for the company. Barclays started coverage on shares of Bank of Montreal in a research report on Wednesday, March 20th. They issued an “overweight” rating on the stock. Finally, Desjardins cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $127.50.

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.