Geneos Wealth Management Inc. Makes New $191,000 Investment in Bank of Montreal (NYSE:BMO)

Geneos Wealth Management Inc. bought a new stake in shares of Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,970 shares of the bank’s stock, valued at approximately $191,000.

A number of other hedge funds have also recently made changes to their positions in BMO. Strategic Investment Solutions Inc. IL purchased a new position in Bank of Montreal during the second quarter valued at $34,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Bank of Montreal in the 3rd quarter worth about $45,000. GHP Investment Advisors Inc. boosted its stake in Bank of Montreal by 244.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after purchasing an additional 393 shares in the last quarter. Blue Trust Inc. boosted its stake in Bank of Montreal by 207.8% in the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock worth $56,000 after purchasing an additional 451 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Bank of Montreal by 47.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank’s stock valued at $66,000 after purchasing an additional 219 shares during the last quarter. 45.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BMO has been the topic of several analyst reports. CIBC upgraded shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. Royal Bank of Canada upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $133.00 to $161.00 in a research note on Wednesday, January 8th. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, December 6th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Tuesday, December 17th. Finally, Cibc World Mkts raised 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, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $128.00.

View Our Latest Report on Bank of Montreal

Bank of Montreal Price Performance

NYSE:BMO opened at $99.60 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $104.63. The business’s 50-day simple moving average is $97.82 and its two-hundred day simple moving average is $91.57. The stock has a market cap of $72.70 billion, a PE ratio of 14.27, a P/E/G ratio of 1.41 and a beta of 1.09.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be issued a $1.1329 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Thursday, January 30th. Bank of Montreal’s payout ratio is presently 63.18%.

About Bank of Montreal

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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