Bank of Montreal (BMO) Stake Lowered by Pictet North America Advisors SA

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Pictet North America Advisors SA cut its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 39.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 74,461 shares of the bank’s stock after selling 48,319 shares during the quarter. Pictet North America Advisors SA’s holdings in Bank of Montreal were worth $5,573,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BMO. Norges Bank purchased a new stake in shares of Bank of Montreal in the fourth quarter valued at approximately $405,149,000. Ronna Sue Cohen increased its position in shares of Bank of Montreal by 7,363.0% during the first quarter. Ronna Sue Cohen now owns 2,728,760 shares of the bank’s stock worth $2,729,000 after purchasing an additional 2,692,196 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Bank of Montreal by 18.4% during the fourth quarter. Mackenzie Financial Corp now owns 8,071,323 shares of the bank’s stock worth $527,461,000 after purchasing an additional 1,251,940 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Bank of Montreal by 149.2% during the third quarter. JPMorgan Chase & Co. now owns 1,058,044 shares of the bank’s stock worth $87,321,000 after purchasing an additional 633,447 shares in the last quarter. Finally, Intact Investment Management Inc. increased its position in shares of Bank of Montreal by 174.2% during the fourth quarter. Intact Investment Management Inc. now owns 776,723 shares of the bank’s stock worth $69,206,000 after purchasing an additional 493,500 shares in the last quarter. Institutional investors and hedge funds own 43.89% of the company’s stock.

Several analysts recently commented on the company. Zacks Investment Research cut Bank of Montreal from a “buy” rating to a “sell” rating in a research report on Tuesday. Bank of America cut Bank of Montreal from a “neutral” rating to an “underperform” rating in a research report on Monday, January 28th. Finally, ValuEngine upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $105.33.

Shares of BMO traded up $0.69 during trading hours on Friday, hitting $79.18. 16,846 shares of the stock were exchanged, compared to its average volume of 517,908. The stock has a market capitalization of $50.40 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 2.21 and a beta of 1.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Montreal has a 12-month low of $62.79 and a 12-month high of $84.36.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, February 26th. The bank reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.06. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.61 billion. Bank of Montreal had a return on equity of 14.89% and a net margin of 17.43%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 earnings per share. On average, analysts predict that Bank of Montreal will post 7.31 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.762 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.05 dividend on an annualized basis and a yield of 3.85%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.75. Bank of Montreal’s payout ratio is 42.92%.

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About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.

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

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