GAMMA Investing LLC Sells 259 Shares of Bank of Montreal (NYSE:BMO)

GAMMA Investing LLC reduced its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 14.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,570 shares of the bank’s stock after selling 259 shares during the quarter. GAMMA Investing LLC’s holdings in Bank of Montreal were worth $142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Boltwood Capital Management lifted its holdings in shares of Bank of Montreal by 3.1% during the 3rd quarter. Boltwood Capital Management now owns 4,125 shares of the bank’s stock worth $372,000 after acquiring an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Bank of Montreal during the second quarter worth about $34,000. Clearbridge Investments LLC boosted its holdings in shares of Bank of Montreal by 6.4% in the 2nd quarter. Clearbridge Investments LLC now owns 1,020,683 shares of the bank’s stock worth $85,588,000 after purchasing an additional 61,083 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Bank of Montreal by 11.5% during the 2nd quarter. Cetera Investment Advisers now owns 19,140 shares of the bank’s stock valued at $1,605,000 after purchasing an additional 1,969 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of Bank of Montreal by 2.1% during the 2nd quarter. Fiera Capital Corp now owns 3,403,431 shares of the bank’s stock valued at $285,789,000 after buying an additional 69,111 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on BMO shares. StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Bank of America cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $134.00 to $117.00 in a research report on Wednesday, August 28th. Jefferies Financial Group downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. TD Securities cut Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, Scotiabank lowered Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $123.00 to $112.00 in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $119.75.

Bank of Montreal Stock Up 1.6 %

NYSE BMO opened at $92.67 on Friday. The business’s 50-day moving average is $86.25 and its 200 day moving average is $88.39. The stock has a market capitalization of $67.60 billion, a PE ratio of 14.59, a PEG ratio of 2.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period last year, the firm posted $2.08 earnings per share. Bank of Montreal’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts forecast that Bank of Montreal will post 8.06 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be issued a $1.123 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $4.49 annualized dividend and a yield of 4.85%. Bank of Montreal’s dividend payout ratio (DPR) is presently 71.34%.

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.