Gulf International Bank UK Ltd Sells 2,726 Shares of Bank of Montreal (NYSE:BMO)

Gulf International Bank UK Ltd decreased its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 56.2% during the third quarter, Holdings Channel.com reports. The fund owned 2,121 shares of the bank’s stock after selling 2,726 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Bank of Montreal were worth $191,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in BMO. Pathway Financial Advisers LLC raised its position in shares of Bank of Montreal by 2,701.7% during the 3rd quarter. Pathway Financial Advisers LLC now owns 30,454 shares of the bank’s stock valued at $2,747,000 after purchasing an additional 29,367 shares during the period. Newport Trust Company LLC increased its stake 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 in the last quarter. Vanguard Group Inc. raised its holdings in Bank of Montreal by 1.9% during the first quarter. Vanguard Group Inc. now owns 28,617,952 shares of the bank’s stock valued at $2,795,402,000 after acquiring an additional 544,767 shares during the period. Intact Investment Management Inc. lifted its position in shares of Bank of Montreal by 72.9% in the third quarter. Intact Investment Management Inc. now owns 588,209 shares of the bank’s stock valued at $53,082,000 after acquiring an additional 248,098 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Bank of Montreal in the first quarter worth about $3,997,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Price Performance

BMO stock opened at $92.91 on Friday. Bank of Montreal has a 52 week low of $76.83 and a 52 week high of $100.12. The firm has a market capitalization of $67.78 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10. The company has a fifty day simple moving average of $89.80 and a two-hundred day simple moving average of $88.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13.

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 net margin of 8.50% and a return on equity of 11.23%. The business had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the previous year, the business posted $2.08 EPS. The firm’s revenue was up .2% on a year-over-year basis. Analysts anticipate that Bank of Montreal will post 8 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be given a dividend of $1.123 per share. This represents a $4.49 annualized dividend and a dividend yield of 4.83%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is currently 72.13%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BMO. Barclays decreased their target price on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. Scotiabank downgraded shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $123.00 to $112.00 in a report on Wednesday, August 28th. TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Jefferies Financial Group downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Finally, StockNews.com downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Bank of Montreal currently has an average rating of “Hold” and a consensus price target of $119.75.

Bank of Montreal Company 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.