Checchi Capital Advisers LLC Lowers Holdings in Bank of Montreal (NYSE:BMO)

Checchi Capital Advisers LLC trimmed its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 31.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,175 shares of the bank’s stock after selling 1,002 shares during the period. Checchi Capital Advisers LLC’s holdings in Bank of Montreal were worth $215,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BMO. Yousif Capital Management LLC lifted its stake in Bank of Montreal by 1.6% during the third quarter. Yousif Capital Management LLC now owns 11,767 shares of the bank’s stock worth $993,000 after purchasing an additional 180 shares in the last quarter. 180 Wealth Advisors LLC lifted its stake in Bank of Montreal by 6.9% during the third quarter. 180 Wealth Advisors LLC now owns 3,687 shares of the bank’s stock worth $311,000 after purchasing an additional 239 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in Bank of Montreal by 5.6% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 2,713 shares of the bank’s stock worth $229,000 after purchasing an additional 143 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Bank of Montreal during the third quarter worth $33,000. Finally, M&T Bank Corp lifted its stake in Bank of Montreal by 1.7% during the third quarter. M&T Bank Corp now owns 59,676 shares of the bank’s stock worth $5,043,000 after purchasing an additional 999 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank of Montreal Stock Performance

Shares of BMO stock opened at $95.25 on Thursday. The stock’s 50-day moving average is $94.08 and its two-hundred day moving average is $91.43. The firm has a market cap of $69.46 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.82 and a beta of 1.13. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $100.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.94.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, February 27th. The bank reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.34). The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $6.34 billion. Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. Analysts predict that Bank of Montreal will post 8.86 earnings per share for the current year.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be issued a dividend of $1.1172 per share. The ex-dividend date is Friday, April 26th. This represents a $4.47 dividend on an annualized basis and a dividend yield of 4.69%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s dividend payout ratio (DPR) is currently 85.11%.

Analyst Ratings Changes

BMO has been the topic of several analyst reports. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. Jefferies Financial Group assumed coverage on Bank of Montreal in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. Finally, Barclays assumed coverage on Bank of Montreal in a report on Wednesday, March 20th. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.00.

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.