Glassman Wealth Services Sells 179 Shares of Bank of Montreal (NYSE:BMO)

Glassman Wealth Services lowered its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 32.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 370 shares of the bank’s stock after selling 179 shares during the period. Glassman Wealth Services’ holdings in Bank of Montreal were worth $37,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Schechter Investment Advisors LLC raised its holdings in Bank of Montreal by 3.8% in the fourth quarter. Schechter Investment Advisors LLC now owns 3,161 shares of the bank’s stock worth $313,000 after buying an additional 116 shares during the last quarter. Pacer Advisors Inc. lifted its position in Bank of Montreal by 1.9% in the 4th quarter. Pacer Advisors Inc. now owns 6,622 shares of the bank’s stock valued at $655,000 after acquiring an additional 126 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Bank of Montreal by 39.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock valued at $46,000 after purchasing an additional 130 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of Bank of Montreal by 4.1% in the 3rd quarter. Brighton Jones LLC now owns 3,527 shares of the bank’s stock worth $298,000 after purchasing an additional 140 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its holdings in shares of Bank of Montreal by 4.6% in the 3rd quarter. Checchi Capital Advisers LLC now owns 3,177 shares of the bank’s stock worth $268,000 after purchasing an additional 141 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank of Montreal Price Performance

Shares of BMO stock traded up $0.20 on Thursday, hitting $89.85. 778,443 shares of the stock traded hands, compared to its average volume of 741,608. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94. Bank of Montreal has a 52 week low of $73.98 and a 52 week high of $100.12. The firm has a 50 day simple moving average of $93.88 and a two-hundred day simple moving average of $90.39. The firm has a market cap of $65.52 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.71 and a beta of 1.14.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, February 27th. The bank reported $1.90 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.34). Bank of Montreal had a net margin of 7.40% and a return on equity of 11.89%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $6.34 billion. As a group, equities research analysts predict that Bank of Montreal will post 8.94 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be issued a $1.1172 dividend. This represents a $4.47 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Friday, April 26th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s payout ratio is 41.79%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BMO. StockNews.com upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, March 3rd. Jefferies Financial Group assumed coverage on shares of Bank of Montreal in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. Finally, Barclays assumed coverage on shares of Bank of Montreal in a research report on Wednesday, March 20th. They set an “overweight” rating for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Bank of Montreal presently has an average rating of “Moderate Buy” and a consensus target price of $131.00.

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.