Bank of Montreal (NYSE:BMO) Shares Acquired by Boltwood Capital Management

Boltwood Capital Management increased its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 4.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,300 shares of the bank’s stock after buying an additional 175 shares during the quarter. Boltwood Capital Management’s holdings in Bank of Montreal were worth $417,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BMO. Toronto Dominion Bank grew its position in Bank of Montreal by 14.9% during the 3rd quarter. Toronto Dominion Bank now owns 11,812,353 shares of the bank’s stock worth $1,065,474,000 after purchasing an additional 1,534,508 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Bank of Montreal by 6.8% during the second quarter. 1832 Asset Management L.P. now owns 7,312,320 shares of the bank’s stock worth $613,138,000 after purchasing an additional 463,924 shares during the last quarter. JARISLOWSKY FRASER Ltd grew its position in Bank of Montreal by 36.9% in the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 5,239,662 shares of the bank’s stock valued at $439,705,000 after buying an additional 1,412,532 shares during the last quarter. FMR LLC increased its stake in Bank of Montreal by 14.2% in the 3rd quarter. FMR LLC now owns 5,046,721 shares of the bank’s stock valued at $455,397,000 after buying an additional 625,797 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Bank of Montreal by 138.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,851,629 shares of the bank’s stock worth $407,282,000 after buying an additional 2,816,385 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Stock Up 0.7 %

Shares of Bank of Montreal stock traded up $0.72 during trading on Monday, reaching $96.78. The company had a trading volume of 129,307 shares, compared to its average volume of 331,333. The company has a market cap of $70.62 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09. Bank of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $104.63. The firm’s fifty day moving average is $95.58 and its 200-day moving average is $89.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be issued a dividend of $1.1329 per share. This represents a $4.53 annualized dividend and a yield of 4.68%. 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. Bank of Montreal’s payout ratio is presently 67.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BMO shares. Scotiabank raised Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $133.00 target price (up previously from $106.00) on shares of Bank of Montreal in a report on Friday, December 6th. CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Finally, StockNews.com downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of Montreal presently has a consensus rating of “Hold” and a consensus price target of $122.40.

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.