Fulton Bank N.A. Makes New $1.41 Million Investment in Bank of Montreal (NYSE:BMO)

Fulton Bank N.A. bought a new position in Bank of Montreal (NYSE:BMO) (TSE:BMO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,497 shares of the bank’s stock, valued at approximately $1,407,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC lifted its position in Bank of Montreal by 2,701.7% in the third 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 period. Newport Trust Company LLC raised its stake in shares of Bank of Montreal by 1.1% during the 2nd quarter. Newport Trust Company LLC now owns 1,411,695 shares of the bank’s stock worth $118,371,000 after buying an additional 14,809 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Bank of Montreal by 80.0% in the 3rd quarter. Wellington Management Group LLP now owns 125,572 shares of the bank’s stock valued at $11,344,000 after buying an additional 55,823 shares during the period. Intact Investment Management Inc. boosted its stake in shares of Bank of Montreal by 72.9% in the third quarter. Intact Investment Management Inc. now owns 588,209 shares of the bank’s stock valued at $53,082,000 after buying an additional 248,098 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Bank of Montreal by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 3,327,465 shares of the bank’s stock worth $300,137,000 after acquiring an additional 144,252 shares during the period. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Trading Up 1.6 %

Shares of Bank of Montreal stock opened at $98.43 on Thursday. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $104.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50 day moving average price of $95.84 and a 200 day moving average price of $90.02. The company has a market capitalization of $71.82 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.42 and a beta of 1.09.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be issued a $1.1329 dividend. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.60%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal’s payout ratio is 67.34%.

Analyst Ratings Changes

A number of equities research analysts have commented 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 shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Royal Bank of Canada upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research report on Wednesday. CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. Finally, StockNews.com downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.