Sequoia Financial Advisors LLC Sells 1,030 Shares of Bank of Montreal (NYSE:BMO)

Sequoia Financial Advisors LLC cut its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 24.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,102 shares of the bank’s stock after selling 1,030 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Bank of Montreal were worth $307,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pinnacle Financial Partners Inc raised its position in shares of Bank of Montreal by 4.2% in the third quarter. Pinnacle Financial Partners Inc now owns 171,717 shares of the bank’s stock valued at $14,488,000 after purchasing an additional 6,901 shares during the period. Pacer Advisors Inc. grew its stake in shares of Bank of Montreal by 1.9% in the fourth quarter. Pacer Advisors Inc. now owns 6,622 shares of the bank’s stock valued at $655,000 after acquiring an additional 126 shares in the last quarter. Addenda Capital Inc. grew its stake in shares of Bank of Montreal by 14.0% in the fourth quarter. Addenda Capital Inc. now owns 848,655 shares of the bank’s stock valued at $83,966,000 after acquiring an additional 104,490 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Bank of Montreal by 177.4% in the fourth quarter. Global Retirement Partners LLC now owns 527 shares of the bank’s stock valued at $50,000 after acquiring an additional 337 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in shares of Bank of Montreal in the fourth quarter valued at about $93,000. 45.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. Barclays initiated coverage on shares of Bank of Montreal in a research note on Wednesday, March 20th. They set an “overweight” rating on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Bank of Montreal in a research note on Thursday, February 22nd. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.00.

Bank of Montreal Trading Up 0.0 %

Shares of Bank of Montreal stock opened at $90.99 on Friday. The company has a market capitalization of $66.35 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.75 and a beta of 1.13. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.12. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12. The firm’s 50-day moving average price is $94.22 and its two-hundred day moving average price is $89.67.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, February 27th. The bank reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.34). The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $6.34 billion. Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. On average, analysts forecast that Bank of Montreal will post 8.94 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be issued a $1.1172 dividend. The ex-dividend date is Friday, April 26th. This represents a $4.47 dividend on an annualized basis and a dividend yield of 4.91%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s dividend payout ratio is 62.02%.

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.