Doliver Advisors LP Cuts Stock Position in Bank of Montreal (NYSE:BMO)

Doliver Advisors LP cut its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 5.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,641 shares of the bank’s stock after selling 147 shares during the period. Doliver Advisors LP’s holdings in Bank of Montreal were worth $238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BMO. Crossmark Global Holdings Inc. increased its stake in Bank of Montreal by 4.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 45,976 shares of the bank’s stock worth $4,549,000 after purchasing an additional 2,038 shares during the period. Annex Advisory Services LLC acquired a new position in Bank of Montreal in the fourth quarter valued at approximately $230,000. CenterBook Partners LP acquired a new position in Bank of Montreal in the fourth quarter valued at approximately $1,709,000. Westwood Holdings Group Inc. acquired a new position in Bank of Montreal in the fourth quarter valued at approximately $231,000. Finally, Ossiam boosted its holdings in shares of Bank of Montreal by 31.3% in the fourth quarter. Ossiam now owns 60,978 shares of the bank’s stock valued at $6,063,000 after acquiring an additional 14,550 shares during the period. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Bank of Montreal Stock Down 0.2 %

Shares of NYSE:BMO opened at $91.04 on Thursday. The firm has a market cap of $66.39 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 2.48 and a beta of 1.11. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12. 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’s 50-day moving average price is $85.34 and its two-hundred day moving average price is $88.60.

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

Bank of Montreal Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be issued a dividend of $1.123 per share. The ex-dividend date is Wednesday, October 30th. This represents a $4.49 annualized dividend and a dividend yield of 4.93%. Bank of Montreal’s payout ratio is currently 76.25%.

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.