MML Investors Services LLC Sells 207 Shares of Bank of Montreal (NYSE:BMO)

MML Investors Services LLC cut its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,487 shares of the bank’s stock after selling 207 shares during the quarter. MML Investors Services LLC’s holdings in Bank of Montreal were worth $765,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Orion Portfolio Solutions LLC lifted its holdings in shares of Bank of Montreal by 4.5% in the third quarter. Orion Portfolio Solutions LLC now owns 4,771 shares of the bank’s stock worth $430,000 after buying an additional 204 shares in the last quarter. Wellington Management Group LLP grew its position in Bank of Montreal by 80.0% during the third quarter. Wellington Management Group LLP now owns 125,572 shares of the bank’s stock worth $11,344,000 after buying an additional 55,823 shares in the last quarter. Stifel Financial Corp increased its stake in Bank of Montreal by 2.4% in the 3rd quarter. Stifel Financial Corp now owns 146,232 shares of the bank’s stock worth $13,190,000 after acquiring an additional 3,496 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Bank of Montreal by 9.6% in the 3rd quarter. Quantinno Capital Management LP now owns 9,122 shares of the bank’s stock valued at $823,000 after acquiring an additional 802 shares in the last quarter. Finally, Murchinson Ltd. purchased a new position in shares of Bank of Montreal during the third quarter worth about $244,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Montreal Trading Down 0.1 %

NYSE BMO opened at $96.54 on Friday. The firm has a market cap of $70.44 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.42 and a beta of 1.10. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $104.63. The stock has a 50-day moving average of $94.86 and a 200-day moving average of $88.89. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be given a $1.1329 dividend. The ex-dividend date is Thursday, January 30th. This represents a $4.53 annualized dividend and a yield of 4.69%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s payout ratio is presently 67.34%.

Analysts Set New Price Targets

BMO has been the topic of a number of recent analyst reports. TD Securities downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. Jefferies Financial Group cut Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. Finally, Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $122.40.

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.