Bank of Montreal (BMO) Position Boosted by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC increased its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 401,974 shares of the bank’s stock after acquiring an additional 31,376 shares during the period. Parametric Portfolio Associates LLC owned about 0.06% of Bank of Montreal worth $30,433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Archford Capital Strategies LLC grew its position in Bank of Montreal by 37.9% in the 3rd quarter. Archford Capital Strategies LLC now owns 19,093 shares of the bank’s stock worth $1,446,000 after purchasing an additional 5,249 shares during the period. Janney Montgomery Scott LLC grew its position in Bank of Montreal by 8.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 20,680 shares of the bank’s stock worth $1,566,000 after purchasing an additional 1,574 shares during the period. Beacon Investment Advisory Services Inc. bought a new stake in Bank of Montreal in the 3rd quarter worth approximately $545,000. Zions Bancorporation grew its position in Bank of Montreal by 3,656.5% in the 3rd quarter. Zions Bancorporation now owns 2,329 shares of the bank’s stock worth $176,000 after purchasing an additional 2,267 shares during the period. Finally, First Republic Investment Management Inc. grew its position in Bank of Montreal by 8.6% in the 3rd quarter. First Republic Investment Management Inc. now owns 8,464 shares of the bank’s stock worth $641,000 after purchasing an additional 668 shares during the period. Institutional investors own 42.83% of the company’s stock.

Shares of Bank of Montreal (NYSE BMO) opened at $79.22 on Friday. Bank of Montreal has a 1 year low of $66.75 and a 1 year high of $79.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $51,180.00, a price-to-earnings ratio of 12.74, a PEG ratio of 2.07 and a beta of 1.06.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 1st will be given a dividend of $0.733 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $2.93 dividend on an annualized basis and a dividend yield of 3.70%. Bank of Montreal’s payout ratio is presently 45.18%.

A number of research firms have commented on BMO. Zacks Investment Research downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Scotiabank reaffirmed a “buy” rating and issued a $101.00 target price on shares of Bank of Montreal in a research report on Wednesday, August 30th. Canaccord Genuity set a $102.00 target price on shares of Bank of Montreal and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Finally, Macquarie began coverage on shares of Bank of Montreal in a research report on Tuesday, October 24th. They set a “neutral” rating and a $81.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $98.20.

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Bank of Montreal Company Profile

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

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

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