Pathway Financial Advisers LLC Sells 30,113 Shares of Bank of Montreal (NYSE:BMO)

Pathway Financial Advisers LLC trimmed its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 98.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341 shares of the bank’s stock after selling 30,113 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Bank of Montreal were worth $33,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Bank of Montreal in the third quarter worth $45,000. GHP Investment Advisors Inc. lifted its stake in Bank of Montreal by 244.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after purchasing an additional 393 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after acquiring an additional 451 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Bank of Montreal by 47.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank’s stock valued at $66,000 after purchasing an additional 219 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Bank of Montreal in the 4th quarter valued at approximately $76,000. 45.82% of the stock is owned by institutional investors.

Bank of Montreal Trading Up 1.8 %

Shares of Bank of Montreal stock opened at $100.42 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $104.63. The stock has a 50 day moving average price of $98.60 and a two-hundred day moving average price of $92.40. The stock has a market capitalization of $73.30 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.40 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. Investors of record on Thursday, January 30th will be issued a $1.1329 dividend. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Thursday, January 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s dividend payout ratio is currently 63.32%.

Analyst Ratings Changes

BMO has been the subject of several analyst reports. Royal Bank of Canada raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $133.00 to $161.00 in a research note on Wednesday, January 8th. Scotiabank raised Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Bank of Montreal presently has an average rating of “Moderate Buy” and an average target price of $128.00.

About Bank of Montreal

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.