Comerica Bank decreased its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 2.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 36,619 shares of the bank’s stock after selling 795 shares during the period. Comerica Bank’s holdings in Bank of Montreal were worth $3,080,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Motco purchased a new position in shares of Bank of Montreal during the third quarter valued at approximately $108,000. Advisory Services Network LLC lifted its stake in shares of Bank of Montreal by 409.1% during the second quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock valued at $115,000 after buying an additional 1,260 shares during the period. Sei Investments Co. lifted its stake in shares of Bank of Montreal by 6,400.0% during the third quarter. Sei Investments Co. now owns 2,015 shares of the bank’s stock valued at $174,000 after buying an additional 1,984 shares during the period. Zions Bancorporation lifted its stake in shares of Bank of Montreal by 3,656.5% during the third quarter. Zions Bancorporation now owns 2,329 shares of the bank’s stock valued at $176,000 after buying an additional 2,267 shares during the period. Finally, Sii Investments Inc. WI purchased a new position in shares of Bank of Montreal during the third quarter valued at approximately $201,000. 44.59% of the stock is currently owned by institutional investors and hedge funds.
Bank of Montreal (NYSE:BMO) opened at $77.69 on Tuesday. 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 firm has a market cap of $50,328.85, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 1.61 and a beta of 1.04. Bank of Montreal has a one year low of $66.75 and a one year high of $84.71.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Thursday, February 1st will be paid a dividend of $0.733 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $2.93 dividend on an annualized basis and a yield of 3.77%. This is an increase from Bank of Montreal’s previous quarterly dividend of $0.72. Bank of Montreal’s dividend payout ratio (DPR) is currently 48.43%.
Several equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Macquarie raised shares of Bank of Montreal from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 15th. Canaccord Genuity reaffirmed a “hold” rating and set a $105.00 price target on shares of Bank of Montreal in a research note on Tuesday, December 5th. Finally, Scotiabank reaffirmed a “buy” rating and set a $112.00 price target on shares of Bank of Montreal in a research note on Wednesday, November 22nd. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Bank of Montreal presently has an average rating of “Hold” and a consensus target price of $98.60.
COPYRIGHT VIOLATION NOTICE: “Bank of Montreal (BMO) Position Lessened by Comerica Bank” was published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.com-unik.info/2018/02/20/bank-of-montreal-bmo-position-lessened-by-comerica-bank.html.
About Bank of Montreal
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.
Want to see what other hedge funds are holding BMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of Montreal (NYSE:BMO) (TSE:BMO).
Receive News & Ratings for Bank of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Montreal and related companies with MarketBeat.com's FREE daily email newsletter.