Brighton Jones LLC Has $306,000 Holdings in Bank of Montreal (NYSE:BMO)

Brighton Jones LLC decreased its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 7.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,387 shares of the bank’s stock after selling 273 shares during the period. Brighton Jones LLC’s holdings in Bank of Montreal were worth $306,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Newport Trust Company LLC grew its holdings in Bank of Montreal by 1.1% during the second quarter. Newport Trust Company LLC now owns 1,411,695 shares of the bank’s stock valued at $118,371,000 after purchasing an additional 14,809 shares during the last quarter. Vanguard Group Inc. grew its stake in Bank of Montreal by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 28,617,952 shares of the bank’s stock valued at $2,795,402,000 after buying an additional 544,767 shares during the last quarter. Intech Investment Management LLC bought a new position in Bank of Montreal in the 1st quarter worth $3,997,000. Fiera Capital Corp lifted its position in Bank of Montreal by 2.1% during the 2nd quarter. Fiera Capital Corp now owns 3,403,431 shares of the bank’s stock worth $285,789,000 after acquiring an additional 69,111 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Bank of Montreal by 34.6% during the first quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $56,000 after acquiring an additional 160 shares during the period. 45.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Bank of Montreal Trading Down 0.7 %

Shares of BMO stock opened at $92.77 on Friday. The firm has a fifty day moving average of $88.49 and a 200-day moving average of $88.18. The stock has a market cap of $67.66 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 2.47 and a beta of 1.11. Bank of Montreal has a 52-week low of $73.98 and a 52-week high of $100.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98.

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

Bank of Montreal Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be given a $1.123 dividend. This represents a $4.49 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio (DPR) is 76.08%.

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.