Patrick M Sweeney & Associates Inc. Takes Position in Bank of Montreal (NYSE:BMO)

Patrick M Sweeney & Associates Inc. acquired a new position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,100 shares of the bank’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Bank of Montreal by 5.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 13,306 shares of the bank’s stock valued at $1,123,000 after purchasing an additional 704 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bank of Montreal by 3.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 221,904 shares of the bank’s stock worth $18,806,000 after acquiring an additional 7,980 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Bank of Montreal by 4.1% during the third quarter. Brighton Jones LLC now owns 3,527 shares of the bank’s stock worth $298,000 after acquiring an additional 140 shares during the last quarter. Value Partners Investments Inc. increased its holdings in shares of Bank of Montreal by 16.3% during the third quarter. Value Partners Investments Inc. now owns 772,294 shares of the bank’s stock valued at $65,450,000 after acquiring an additional 108,177 shares in the last quarter. Finally, NBT Bank N A NY purchased a new position in shares of Bank of Montreal in the 3rd quarter valued at approximately $306,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Performance

NYSE:BMO traded down $0.99 during midday trading on Tuesday, hitting $92.06. The company’s stock had a trading volume of 300,037 shares, compared to its average volume of 731,426. 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 fifty-two week low of $73.98 and a fifty-two week high of $100.12. The firm’s 50 day moving average is $93.73 and its 200-day moving average is $90.79. The firm has a market cap of $67.13 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.75 and a beta of 1.14.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, February 27th. The bank reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.34). Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $6.34 billion. Equities analysts anticipate 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 paid a $1.1172 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, April 26th. This represents a $4.47 dividend on an annualized basis and a dividend yield of 4.85%. Bank of Montreal’s dividend payout ratio is presently 41.79%.

Analyst Ratings Changes

Several research firms have weighed in on BMO. Barclays began coverage on shares of Bank of Montreal in a research report on Wednesday, March 20th. They set an “overweight” rating on the stock. Jefferies Financial Group started coverage on shares of Bank of Montreal in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Finally, StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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.