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

Nexus Investment Management ULC trimmed its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 76.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor 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 (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Bank of Montreal by 261.6% in the third 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 acquiring an additional 3,074,389 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Bank of Montreal by 138.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,851,629 shares of the bank’s stock worth $407,282,000 after purchasing an additional 2,816,385 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Bank of Montreal by 14.9% in the 3rd quarter. Toronto Dominion Bank now owns 11,812,353 shares of the bank’s stock valued at $1,065,474,000 after purchasing an additional 1,534,508 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Bank of Montreal during the 4th quarter worth approximately $760,000. Finally, FMR LLC increased 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 purchasing an additional 625,797 shares during the period. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Trading Down 0.2 %

Shares of Bank of Montreal stock opened at $98.99 on Friday. The firm has a market capitalization 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 company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $96.75 and its 200 day moving average is $90.67. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $104.63.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be issued a dividend of $1.1329 per share. The ex-dividend date of this dividend is Thursday, January 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a dividend yield of 4.58%. Bank of Montreal’s dividend payout ratio is 65.62%.

Wall Street Analyst Weigh In

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