EverSource Wealth Advisors LLC Buys 858 Shares of Bank of Montreal (NYSE:BMO)

EverSource Wealth Advisors LLC increased its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 137.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,481 shares of the bank’s stock after acquiring an additional 858 shares during the period. EverSource Wealth Advisors LLC’s holdings in Bank of Montreal were worth $125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMO. Vanguard Group Inc. lifted its stake in Bank of Montreal by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 28,073,185 shares of the bank’s stock worth $2,777,561,000 after purchasing an additional 881,992 shares during the last quarter. Newport Trust Company LLC lifted its position in Bank of Montreal by 1.1% in the 2nd quarter. Newport Trust Company LLC now owns 1,411,695 shares of the bank’s stock worth $118,371,000 after buying an additional 14,809 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Bank of Montreal by 72.6% in the fourth quarter. Corient Private Wealth LLC now owns 32,603 shares of the bank’s stock worth $3,226,000 after buying an additional 13,718 shares in the last quarter. Intech Investment Management LLC bought a new position in Bank of Montreal during the first quarter valued at approximately $3,997,000. Finally, Gulf International Bank UK Ltd raised its stake in shares of Bank of Montreal by 7.9% during the first quarter. Gulf International Bank UK Ltd now owns 4,535 shares of the bank’s stock worth $442,000 after acquiring an additional 332 shares in the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Montreal Stock Up 1.5 %

NYSE BMO opened at $90.77 on Friday. The business’s 50-day moving average is $84.96 and its 200 day moving average is $88.73. The stock has a market capitalization of $66.21 billion, a PE ratio of 15.08, a PEG ratio of 2.48 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). The business had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. Bank of Montreal’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 earnings per share. Sell-side analysts forecast that Bank of Montreal will post 8.06 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be given a dividend of $1.123 per share. This represents a $4.49 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal’s payout ratio is currently 75.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BMO shares. Jefferies Financial Group cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Royal Bank of Canada lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. TD Securities lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, UBS Group started coverage on Bank of Montreal in a research report on Tuesday, July 2nd. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Bank of Montreal presently has a consensus rating of “Hold” and a consensus price target 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.