Ballentine Partners LLC Has $258,000 Holdings in Bank of Montreal (NYSE:BMO)

Ballentine Partners LLC decreased its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 11.3% in the 2nd quarter, Holdings Channel reports. The firm owned 3,080 shares of the bank’s stock after selling 394 shares during the quarter. Ballentine Partners LLC’s holdings in Bank of Montreal were worth $258,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BMO. Principal Securities Inc. bought a new position in Bank of Montreal during the fourth quarter worth $33,000. Rothschild Investment LLC acquired a new stake in Bank of Montreal during the 2nd quarter worth about $40,000. EverSource Wealth Advisors LLC grew its holdings in Bank of Montreal by 39.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock worth $46,000 after acquiring an additional 130 shares during the period. Olistico Wealth LLC bought a new position in shares of Bank of Montreal in the 2nd quarter worth about $59,000. Finally, IAG Wealth Partners LLC lifted its stake in shares of Bank of Montreal by 28.0% in the 1st quarter. IAG Wealth Partners LLC now owns 635 shares of the bank’s stock valued at $62,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 45.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on BMO. Barclays decreased their target price on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. UBS Group started coverage on shares of Bank of Montreal in a research note on Tuesday, July 2nd. They issued a “neutral” rating for the company. Desjardins downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Keefe, Bruyette & Woods cut shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $137.00 to $124.00 in a report on Monday, June 3rd. Finally, TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.75.

Bank of Montreal Stock Performance

Shares of BMO stock opened at $84.33 on Thursday. The firm has a market capitalization of $61.50 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 2.26 and a beta of 1.11. The firm has a fifty day simple moving average of $84.49 and a two-hundred day simple moving average of $89.00. Bank of Montreal has a 12 month low of $73.98 and a 12 month high of $100.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.12). The business had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $8.25 billion. Bank of Montreal had a net margin of 8.50% and a return on equity of 11.23%. Bank of Montreal’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.08 EPS. Analysts forecast that Bank of Montreal will post 8.06 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be given a dividend of $1.123 per share. The ex-dividend date is Wednesday, October 30th. This represents a $4.49 annualized dividend and a dividend yield of 5.33%. Bank of Montreal’s payout ratio is 74.58%.

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.