Nexus Investment Management ULC Has $373,000 Holdings in Bank of Montreal (NYSE:BMO)

Nexus Investment Management ULC trimmed its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 76.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,854 shares of the bank’s stock after selling 12,390 shares during the period. Nexus Investment Management ULC’s holdings in Bank of Montreal were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Bank of Montreal by 261.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,249,552 shares of the bank’s stock valued at $383,449,000 after purchasing an additional 3,074,389 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Bank of Montreal by 138.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,851,629 shares of the bank’s stock valued at $407,282,000 after buying an additional 2,816,385 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Bank of Montreal by 14.9% in the third quarter. Toronto Dominion Bank now owns 11,812,353 shares of the bank’s stock valued at $1,065,474,000 after buying an additional 1,534,508 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Bank of Montreal during the fourth quarter worth $760,000. Finally, FMR LLC raised its holdings in shares of Bank of Montreal by 14.2% during the third quarter. FMR LLC now owns 5,046,721 shares of the bank’s stock worth $455,397,000 after acquiring an additional 625,797 shares during the period. 45.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BMO. Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, December 6th. StockNews.com downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a report on Tuesday, December 17th. CIBC upgraded Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $133.00 to $161.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bank of Montreal has an average rating of “Hold” and an average target price of $128.00.

Bank of Montreal Price Performance

Shares of NYSE BMO opened at $98.99 on Friday. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $104.63. The company has a market cap of $72.23 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The business’s 50 day moving average price is $96.75 and its two-hundred day moving average price is $90.67. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11.

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 given a dividend of $1.1329 per share. This represents a $4.53 dividend on an annualized basis and a yield of 4.58%. 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 65.62%.

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.