MML Investors Services LLC Has $765,000 Position in Bank of Montreal (NYSE:BMO)

MML Investors Services LLC trimmed its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,487 shares of the bank’s stock after selling 207 shares during the quarter. MML Investors Services LLC’s holdings in Bank of Montreal were worth $765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new position in Bank of Montreal in the second quarter valued at approximately $34,000. Rothschild Investment LLC bought a new stake in shares of Bank of Montreal in the 2nd quarter valued at $40,000. GHP Investment Advisors Inc. boosted its stake in Bank of Montreal by 244.1% during the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after acquiring an additional 393 shares in the last quarter. Blue Trust Inc. grew its holdings in Bank of Montreal by 207.8% in the third quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock worth $56,000 after purchasing an additional 451 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in Bank of Montreal in the second quarter worth $65,000. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Performance

Shares of BMO stock opened at $96.54 on Friday. Bank of Montreal has a one year low of $76.98 and a one year high of $104.63. The company has a market cap of $70.44 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.42 and a beta of 1.10. The firm has a 50-day moving average of $94.86 and a 200-day moving average of $88.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98.

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 paid a $1.1329 dividend. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Thursday, January 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s payout ratio is presently 67.34%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BMO. Barclays cut their price objective on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $133.00 target price (up from $106.00) on shares of Bank of Montreal in a report on Friday, December 6th. Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and reduced their price target for the company from $134.00 to $117.00 in a research report on Wednesday, August 28th. TD Securities downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Finally, Jefferies Financial Group cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $122.40.

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.