HighTower Advisors LLC Decreases Stock Holdings in Bank of Montreal (NYSE:BMO)

HighTower Advisors LLC reduced its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 7.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,974 shares of the bank’s stock after selling 1,531 shares during the period. HighTower Advisors LLC’s holdings in Bank of Montreal were worth $1,802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in BMO. Strategic Investment Solutions Inc. IL purchased a new position in Bank of Montreal in the second quarter worth about $34,000. Rothschild Investment LLC purchased a new position in shares of Bank of Montreal in the 2nd quarter worth approximately $40,000. GHP Investment Advisors Inc. increased its position in shares of Bank of Montreal by 244.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after purchasing an additional 393 shares during the last quarter. Blue Trust Inc. increased its position in shares of Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after purchasing an additional 451 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Bank of Montreal during the 2nd quarter valued at $65,000. 45.82% of the stock is currently owned by institutional investors.

Bank of Montreal Stock Performance

Shares of Bank of Montreal stock opened at $99.02 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average price is $94.24 and its 200-day moving average price is $88.58. The firm has a market cap of $72.25 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.42 and a beta of 1.10. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $104.63.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be issued a $1.1329 dividend. The ex-dividend date is Thursday, January 30th. This represents a $4.53 annualized dividend and a dividend yield of 4.58%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s payout ratio is currently 67.34%.

Analyst Upgrades and Downgrades

Several research analysts have commented on BMO shares. CIBC raised 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 reiterated a “sector perform” rating and set a $133.00 price target (up from $106.00) on shares of Bank of Montreal in a report on Friday, December 6th. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Barclays cut 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. Finally, Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $122.40.

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.