Park Place Capital Corp Takes Position in Bank of Montreal (NYSE:BMO)

Park Place Capital Corp bought a new position in Bank of Montreal (NYSE:BMO) (TSE:BMO) during the 4th quarter, HoldingsChannel reports. The fund bought 2,824 shares of the bank’s stock, valued at approximately $274,000.

Other hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC grew its holdings in Bank of Montreal by 2,701.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 30,454 shares of the bank’s stock worth $2,747,000 after acquiring an additional 29,367 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Bank of Montreal by 80.0% in the third quarter. Wellington Management Group LLP now owns 125,572 shares of the bank’s stock worth $11,344,000 after purchasing an additional 55,823 shares during the last quarter. Intact Investment Management Inc. grew its stake in shares of Bank of Montreal by 72.9% in the third quarter. Intact Investment Management Inc. now owns 588,209 shares of the bank’s stock worth $53,082,000 after purchasing an additional 248,098 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Bank of Montreal by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,327,465 shares of the bank’s stock valued at $300,137,000 after purchasing an additional 144,252 shares during the period. Finally, Cardinal Capital Management Inc. raised its position in Bank of Montreal by 4.9% during the 3rd quarter. Cardinal Capital Management Inc. now owns 1,298,627 shares of the bank’s stock valued at $117,326,000 after purchasing an additional 60,155 shares during the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank of Montreal Stock Down 0.0 %

Shares of Bank of Montreal stock opened at $100.16 on Thursday. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $104.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50-day moving average of $96.97 and a 200 day moving average of $90.97. The firm has a market cap of $73.11 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.39 and a beta of 1.09.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be issued a dividend of $1.1329 per share. This represents a $4.53 annualized dividend and a dividend yield of 4.52%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal’s dividend payout ratio (DPR) is presently 65.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $133.00 to $161.00 in a research report on Wednesday, January 8th. StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Tuesday, December 17th. CIBC upgraded shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Cibc World Mkts raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Finally, Scotiabank upgraded shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $128.00.

Bank of Montreal 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.