ST Germain D J Co. Inc. Sells 30,848 Shares of Bank of Montreal (NYSE:BMO)

ST Germain D J Co. Inc. trimmed its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 29.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 75,363 shares of the bank’s stock after selling 30,848 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Bank of Montreal were worth $6,798,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BMO. Strategic Investment Solutions Inc. IL bought a new stake in Bank of Montreal in the second quarter worth $34,000. Rothschild Investment LLC purchased a new position in Bank of Montreal in the 2nd quarter worth approximately $40,000. EverSource Wealth Advisors LLC lifted its position in Bank of Montreal by 34.6% in the first quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $56,000 after purchasing an additional 160 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Bank of Montreal by 207.8% during the third quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after purchasing an additional 451 shares during the period. Finally, Olistico Wealth LLC bought a new position in shares of Bank of Montreal in the second quarter worth approximately $59,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Up 0.5 %

BMO stock traded up $0.48 during midday trading on Friday, hitting $94.06. The company’s stock had a trading volume of 538,867 shares, compared to its average volume of 883,323. The company has a market cap of $68.60 billion, a PE ratio of 15.62, a P/E/G ratio of 2.47 and a beta of 1.11. The firm’s 50-day moving average is $87.54 and its 200-day moving average is $88.32. Bank of Montreal has a 12 month low of $73.98 and a 12 month high of $100.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). Bank of Montreal had a net margin of 8.50% and a return on equity of 11.23%. The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts forecast that Bank of Montreal will post 8.06 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be issued a dividend of $1.123 per share. The ex-dividend date is Wednesday, October 30th. This represents a $4.49 annualized dividend and a dividend yield of 4.78%. Bank of Montreal’s payout ratio is 76.08%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BMO. Jefferies Financial Group cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $134.00 to $117.00 in a research note on Wednesday, August 28th. UBS Group started coverage on shares of Bank of Montreal in a research report on Tuesday, July 2nd. They set a “neutral” rating on the stock. TD Securities downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, StockNews.com lowered Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $119.75.

About Bank of Montreal

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.