First Affirmative Financial Network Sells 903 Shares of Bank of Montreal (NYSE:BMO)

First Affirmative Financial Network lowered its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 26.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,486 shares of the bank’s stock after selling 903 shares during the quarter. First Affirmative Financial Network’s holdings in Bank of Montreal were worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Bank of Montreal in the second quarter valued at about $34,000. Rothschild Investment LLC bought a new position in Bank of Montreal during the 2nd quarter worth approximately $40,000. EverSource Wealth Advisors LLC lifted its position 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 purchasing an additional 160 shares during the period. Olistico Wealth LLC bought a new stake in shares of Bank of Montreal in the 2nd quarter valued at $59,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Bank of Montreal during the second quarter worth $65,000. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Performance

NYSE BMO opened at $92.67 on Friday. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12. The firm has a market cap of $67.60 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 2.47 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $86.25 and its 200-day moving average is $88.39.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The firm had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same period last year, the company posted $2.08 EPS. The business’s revenue was up .2% on a year-over-year basis. Sell-side analysts predict that Bank of Montreal will post 8.06 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be given a dividend of $1.123 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $4.49 annualized dividend and a yield of 4.85%. Bank of Montreal’s payout ratio is presently 71.34%.

Analysts Set New Price Targets

BMO has been the subject of a number of research reports. StockNews.com downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Scotiabank lowered shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $123.00 to $112.00 in a research note on Wednesday, August 28th. Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $134.00 to $117.00 in a report on Wednesday, August 28th. Barclays lowered their target price on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Finally, Jefferies Financial Group downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. One research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.