K.J. Harrison & Partners Inc Has $3.85 Million Holdings in Bank of Montreal (NYSE:BMO)

K.J. Harrison & Partners Inc trimmed its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,738 shares of the bank’s stock after selling 353 shares during the period. K.J. Harrison & Partners Inc’s holdings in Bank of Montreal were worth $3,853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BMO. IFP Advisors Inc lifted its holdings in Bank of Montreal by 179.5% during the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock valued at $30,000 after purchasing an additional 201 shares during the last quarter. Addison Advisors LLC raised its position in shares of Bank of Montreal by 282.8% in the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock valued at $32,000 after purchasing an additional 246 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Bank of Montreal in the third quarter valued at about $45,000. Blue Trust Inc. lifted its stake in shares of Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock worth $56,000 after buying an additional 451 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Bank of Montreal by 140.9% during the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank’s stock worth $59,000 after buying an additional 358 shares during the period. 45.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Scotiabank upgraded shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, December 6th. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. CIBC upgraded Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, Royal Bank of Canada lifted their target price on Bank of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a report on Wednesday. One 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 company’s stock. Based on data from MarketBeat, Bank of Montreal currently has an average rating of “Hold” and an average target price of $128.40.

Bank of Montreal Stock Performance

NYSE:BMO opened at $104.05 on Thursday. The stock has a fifty day moving average price of $98.96 and a 200-day moving average price of $93.76. The company has a market cap of $75.84 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.43 and a beta of 1.09. 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 fifty-two week low of $76.98 and a fifty-two week high of $106.00.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $1.36. The business had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.58 billion. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. Bank of Montreal’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.56 earnings per share. As a group, equities analysts anticipate that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be given a $1.1094 dividend. This represents a $4.44 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Tuesday, April 29th. Bank of Montreal’s payout ratio is presently 63.18%.

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.