Triasima Portfolio Management inc. Purchases New Position in Bank of Montreal (NYSE:BMO)

Triasima Portfolio Management inc. acquired a new position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) in the 4th quarter, Holdings Channel.com reports. The firm acquired 2,115 shares of the bank’s stock, valued at approximately $205,000.

Other institutional investors also recently made changes to their positions in the company. Bleakley Financial Group LLC acquired a new stake in Bank of Montreal during the 4th quarter worth approximately $345,000. Choreo LLC bought a new position in Bank of Montreal during the 4th quarter worth $206,000. Columbus Macro LLC acquired a new stake in shares of Bank of Montreal during the fourth quarter worth $1,797,000. Fourpath Capital Management LLC bought a new stake in shares of Bank of Montreal in the fourth quarter valued at about $590,000. Finally, Five Oceans Advisors acquired a new position in shares of Bank of Montreal in the fourth quarter valued at about $327,000. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Price Performance

Bank of Montreal stock opened at $99.61 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $104.63. The stock has a market capitalization of $72.71 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.39 and a beta of 1.09. The stock has a fifty day moving average of $98.27 and a 200-day moving average of $92.02.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be paid a dividend of $1.1329 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $4.53 annualized dividend and a yield of 4.55%. Bank of Montreal’s payout ratio is presently 63.18%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BMO shares. 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 company from $133.00 to $161.00 in a report on Wednesday, January 8th. CIBC upgraded Bank of Montreal from a “neutral” 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 research report on Tuesday, December 17th. Scotiabank raised Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. Finally, Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of Montreal has a consensus rating of “Hold” and an average price target of $128.00.

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.