Flinton Capital Management LLC boosted its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 14.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,504 shares of the bank’s stock after buying an additional 924 shares during the quarter. Flinton Capital Management LLC’s holdings in Bank of Montreal were worth $545,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Patten Group Inc. increased its holdings in Bank of Montreal by 3.9% in the second quarter. Patten Group Inc. now owns 3,699 shares of the bank’s stock valued at $279,000 after buying an additional 140 shares during the last quarter. NEXT Financial Group Inc grew its holdings in shares of Bank of Montreal by 38.5% during the second quarter. NEXT Financial Group Inc now owns 518 shares of the bank’s stock valued at $39,000 after purchasing an additional 144 shares during the last quarter. Curbstone Financial Management Corp grew its holdings in shares of Bank of Montreal by 0.5% during the second quarter. Curbstone Financial Management Corp now owns 27,850 shares of the bank’s stock valued at $2,101,000 after purchasing an additional 150 shares during the last quarter. Cordasco Financial Network grew its holdings in shares of Bank of Montreal by 8.1% during the second quarter. Cordasco Financial Network now owns 2,259 shares of the bank’s stock valued at $170,000 after purchasing an additional 170 shares during the last quarter. Finally, Advisor Group Inc. grew its holdings in shares of Bank of Montreal by 0.8% during the second quarter. Advisor Group Inc. now owns 22,061 shares of the bank’s stock valued at $1,667,000 after purchasing an additional 184 shares during the last quarter. 41.12% of the stock is owned by hedge funds and other institutional investors.
Shares of BMO stock opened at $72.35 on Thursday. Bank of Montreal has a 12-month low of $62.79 and a 12-month high of $84.36. The firm has a market capitalization of $46.18 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 2.81 and a beta of 1.18. The business has a 50 day simple moving average of $71.19 and a 200 day simple moving average of $75.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.02.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 1st will be given a dividend of $0.781 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Thursday, October 31st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.77. Bank of Montreal’s payout ratio is 44.64%.
Several equities analysts have recently commented on BMO shares. ValuEngine lowered Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research lowered Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. Howard Weil lowered Bank of Montreal from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, May 30th. Barclays reaffirmed a “hold” rating on shares of Bank of Montreal in a report on Tuesday, June 11th. Finally, Credit Suisse Group raised Bank of Montreal from an “underperform” rating to a “neutral” rating and set a $93.00 target price for the company in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $95.67.
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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