Cary Street Partners Investment Advisory LLC Has $388,000 Stake in Bank of Montreal (NYSE:BMO)

Cary Street Partners Investment Advisory LLC grew its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 16.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,300 shares of the bank’s stock after purchasing an additional 600 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Bank of Montreal were worth $388,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in BMO. Quadrant Capital Group LLC grew its holdings in Bank of Montreal by 6.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,914 shares of the bank’s stock worth $173,000 after acquiring an additional 115 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Bank of Montreal by 1.3% during the second quarter. Russell Investments Group Ltd. now owns 288,461 shares of the bank’s stock valued at $26,024,000 after purchasing an additional 3,782 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Bank of Montreal in the second quarter valued at approximately $13,614,000. Checchi Capital Advisers LLC raised its position in Bank of Montreal by 17.5% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,036 shares of the bank’s stock worth $274,000 after purchasing an additional 453 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in Bank of Montreal by 19.1% during the 2nd quarter. Citigroup Inc. now owns 141,952 shares of the bank’s stock worth $12,834,000 after buying an additional 22,765 shares in the last quarter. Institutional investors own 43.89% of the company’s stock.

Bank of Montreal Price Performance

Bank of Montreal stock opened at $81.37 on Tuesday. The firm has a market capitalization of $58.67 billion, a P/E ratio of 10.78, a PEG ratio of 1.24 and a beta of 1.15. The business has a 50-day moving average of $81.21 and a 200-day moving average of $85.62. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.12. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $102.79.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 29th. The bank reported $2.08 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.20). The firm had revenue of $5.94 billion during the quarter. Bank of Montreal had a net margin of 11.19% and a return on equity of 12.70%. On average, equities analysts anticipate that Bank of Montreal will post 8.67 EPS for the current year.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Monday, October 30th will be given a $1.11 dividend. The ex-dividend date is Friday, October 27th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 5.46%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.09. Bank of Montreal’s dividend payout ratio is currently 57.35%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BMO. Barclays lifted their price objective on Bank of Montreal from $123.00 to $131.00 and gave the stock an “overweight” rating in a research report on Monday, August 21st. StockNews.com began coverage on shares of Bank of Montreal in a report on Thursday, October 5th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.25.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.