Bank of Montreal (NYSE:BMO) Shares Sold by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC decreased its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 28.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,675 shares of the bank’s stock after selling 1,063 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Bank of Montreal were worth $241,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Probity Advisors Inc. boosted its holdings in Bank of Montreal by 21.4% in the third quarter. Probity Advisors Inc. now owns 12,876 shares of the bank’s stock worth $1,161,000 after acquiring an additional 2,273 shares in the last quarter. Creative Planning boosted its stake in Bank of Montreal by 16.8% in the 3rd quarter. Creative Planning now owns 34,231 shares of the bank’s stock worth $3,088,000 after purchasing an additional 4,918 shares in the last quarter. Cardinal Capital Management Inc. increased its stake in Bank of Montreal by 4.9% during the 3rd quarter. Cardinal Capital Management Inc. now owns 1,298,627 shares of the bank’s stock valued at $117,326,000 after purchasing an additional 60,155 shares in the last quarter. Annex Advisory Services LLC raised its holdings in shares of Bank of Montreal by 16.0% in the third quarter. Annex Advisory Services LLC now owns 2,810 shares of the bank’s stock worth $253,000 after buying an additional 387 shares during the last quarter. Finally, Perfromance Wealth Partners LLC acquired a new position in shares of Bank of Montreal in the 3rd quarter valued at $226,000. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank of Montreal Price Performance

Shares of NYSE BMO opened at $93.58 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $68.25 billion, a PE ratio of 15.54, a PEG ratio of 2.47 and a beta of 1.11. Bank of Montreal has a one year low of $73.98 and a one year high of $100.12. The firm has a fifty day moving average of $87.29 and a 200 day moving average of $88.35.

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

Bank of Montreal Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be paid a $1.123 dividend. This represents a $4.49 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is currently 76.08%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BMO shares. StockNews.com lowered Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Bank of America downgraded Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $134.00 to $117.00 in a research note on Wednesday, August 28th. Royal Bank of Canada cut shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.