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

ST Germain D J Co. Inc. lessened its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 29.0% during the 3rd quarter, HoldingsChannel reports. 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC raised its position in Bank of Montreal by 1.5% during the second quarter. Signaturefd LLC now owns 8,581 shares of the bank’s stock valued at $720,000 after purchasing an additional 123 shares during the period. Boltwood Capital Management raised its holdings in Bank of Montreal by 3.1% during the 3rd quarter. Boltwood Capital Management now owns 4,125 shares of the bank’s stock valued at $372,000 after buying an additional 125 shares during the period. Sequoia Financial Advisors LLC lifted its position in Bank of Montreal by 4.4% in the second quarter. Sequoia Financial Advisors LLC now owns 3,580 shares of the bank’s stock worth $300,000 after buying an additional 151 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Bank of Montreal by 34.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock worth $56,000 after acquiring an additional 160 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of Bank of Montreal by 17.9% during the 2nd quarter. Whittier Trust Co. now owns 1,092 shares of the bank’s stock worth $92,000 after purchasing an additional 166 shares during the period. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Montreal Stock Up 0.5 %

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

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 company had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the prior year, the business posted $2.08 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. On average, analysts predict that Bank of Montreal will post 8.06 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BMO. Barclays reduced their price target on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. Scotiabank lowered Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $123.00 to $112.00 in a research note on Wednesday, August 28th. Jefferies Financial Group lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. UBS Group started coverage on shares of Bank of Montreal in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Finally, Bank of America cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $134.00 to $117.00 in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $119.75.

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.