Royal London Asset Management Ltd. Sells 4,788 Shares of Bank Of Montreal $BMO

Royal London Asset Management Ltd. lowered its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 15.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 26,537 shares of the bank’s stock after selling 4,788 shares during the period. Royal London Asset Management Ltd.’s holdings in Bank Of Montreal were worth $4,689,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Bank Of Montreal in the 2nd quarter worth about $28,000. WFA of San Diego LLC bought a new position in shares of Bank Of Montreal during the 2nd quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Bank Of Montreal during the 4th quarter valued at about $29,000. Larson Financial Group LLC raised its holdings in shares of Bank Of Montreal by 466.7% during the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after buying an additional 196 shares in the last quarter. Finally, Western Wealth Management LLC bought a new stake in Bank Of Montreal in the 1st quarter worth approximately $38,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of Montreal Trading Down 0.9%

Shares of BMO stock opened at $170.39 on Tuesday. The business has a 50-day moving average of $177.88 and a 200 day moving average of $159.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.01. Bank Of Montreal has a 1-year low of $118.66 and a 1-year high of $187.22. The stock has a market capitalization of $118.79 billion, a PE ratio of 19.23, a P/E/G ratio of 1.02 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, August 25th. The bank reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.13. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%.The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.94 billion. During the same period in the previous year, the firm earned $3.23 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Bank Of Montreal will post 10.76 earnings per share for the current year.

Bank Of Montreal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Stockholders of record on Friday, October 30th will be issued a $1.71 dividend. The ex-dividend date is Friday, October 30th. This represents a $6.84 annualized dividend and a dividend yield of 4.0%. Bank Of Montreal’s dividend payout ratio (DPR) is currently 54.29%.

Analyst Ratings Changes

BMO has been the subject of several research reports. Weiss Ratings lowered Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Scotiabank restated an “outperform” rating on shares of Bank Of Montreal in a report on Wednesday, August 26th. Desjardins restated a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Keefe, Bruyette & Woods assumed coverage on shares of Bank Of Montreal in a research note on Friday, August 21st. They issued an “outperform” rating for the company. Finally, Canadian Imperial Bank of Commerce lowered shares of Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a report on Tuesday, August 18th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $163.00.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.