Passumpsic Savings Bank Has $464,000 Stake in Bank of Montreal (NYSE:BMO)

Passumpsic Savings Bank boosted its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,142 shares of the bank’s stock after buying an additional 105 shares during the quarter. Passumpsic Savings Bank’s holdings in Bank of Montreal were worth $464,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Pathway Financial Advisers LLC boosted its stake in shares of Bank of Montreal by 2,701.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 30,454 shares of the bank’s stock valued at $2,747,000 after purchasing an additional 29,367 shares during the last quarter. Newport Trust Company LLC boosted its position in Bank of Montreal by 1.1% during the second quarter. Newport Trust Company LLC now owns 1,411,695 shares of the bank’s stock valued at $118,371,000 after acquiring an additional 14,809 shares during the last quarter. Wellington Management Group LLP grew its holdings in Bank of Montreal by 80.0% during the 3rd quarter. Wellington Management Group LLP now owns 125,572 shares of the bank’s stock worth $11,344,000 after acquiring an additional 55,823 shares during the period. Intact Investment Management Inc. raised its position in shares of Bank of Montreal by 72.9% in the 3rd quarter. Intact Investment Management Inc. now owns 588,209 shares of the bank’s stock worth $53,082,000 after acquiring an additional 248,098 shares in the last quarter. Finally, Fiera Capital Corp lifted its stake in shares of Bank of Montreal by 2.1% in the 2nd quarter. Fiera Capital Corp now owns 3,403,431 shares of the bank’s stock valued at $285,789,000 after purchasing an additional 69,111 shares during the period. Institutional investors own 45.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. StockNews.com lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Tuesday, December 17th. Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $133.00 price objective (up previously from $106.00) on shares of Bank of Montreal in a report on Friday, December 6th. Finally, CIBC upgraded Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $122.40.

Bank of Montreal Trading Up 0.2 %

NYSE:BMO opened at $97.05 on Wednesday. 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 has a one year low of $76.98 and a one year high of $104.63. The company has a market cap of $70.81 billion, a PE ratio of 13.90, a PEG ratio of 1.42 and a beta of 1.10. The firm has a 50-day moving average of $95.37 and a 200-day moving average of $89.52.

Bank of Montreal Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, January 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a dividend yield of 4.67%. Bank of Montreal’s dividend payout ratio is 67.34%.

Bank of Montreal Company 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.