Park National Corp OH Decreases Stock Position in Bank of Montreal (NYSE:BMO)

Park National Corp OH trimmed its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 12.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,385 shares of the bank’s stock after selling 325 shares during the quarter. Park National Corp OH’s holdings in Bank of Montreal were worth $215,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BMO. Vanguard Group Inc. grew its position in shares of Bank of Montreal by 1.9% during the first quarter. Vanguard Group Inc. now owns 28,617,952 shares of the bank’s stock worth $2,795,402,000 after buying an additional 544,767 shares in the last quarter. National Bank of Canada FI grew its holdings in Bank of Montreal by 4.9% during the 2nd quarter. National Bank of Canada FI now owns 14,761,836 shares of the bank’s stock worth $1,231,564,000 after acquiring an additional 692,049 shares in the last quarter. FIL Ltd increased its position in shares of Bank of Montreal by 138.3% in the 4th quarter. FIL Ltd now owns 9,872,642 shares of the bank’s stock valued at $976,870,000 after purchasing an additional 5,729,145 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Bank of Montreal by 6.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 7,312,320 shares of the bank’s stock valued at $613,138,000 after purchasing an additional 463,924 shares in the last quarter. Finally, JARISLOWSKY FRASER Ltd raised its holdings in shares of Bank of Montreal by 36.9% in the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 5,239,662 shares of the bank’s stock valued at $439,705,000 after purchasing an additional 1,412,532 shares in the last quarter. 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 $91.22 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. The stock has a market cap of $66.53 billion, a P/E ratio of 15.15, a P/E/G ratio of 2.48 and a beta of 1.11. The stock has a 50 day moving average of $85.42 and a two-hundred day moving average of $88.62. Bank of Montreal has a twelve month low of $73.98 and a twelve month high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 EPS. On average, research 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 declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be given a $1.123 dividend. This represents a $4.49 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio (DPR) is presently 76.25%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Royal Bank of Canada lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating in a report on Tuesday, July 30th. Scotiabank cut Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $123.00 to $112.00 in a research note on Wednesday, August 28th. StockNews.com lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Jefferies Financial Group downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, UBS Group assumed coverage on shares of Bank of Montreal in a research report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $119.75.

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.