Addison Advisors LLC Acquires 246 Shares of Bank of Montreal (NYSE:BMO)

Addison Advisors LLC increased its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 282.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333 shares of the bank’s stock after acquiring an additional 246 shares during the quarter. Addison Advisors LLC’s holdings in Bank of Montreal were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. IFP Advisors Inc increased its stake in shares of Bank of Montreal by 179.5% in the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock worth $30,000 after acquiring an additional 201 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Bank of Montreal in the 4th quarter worth about $3,220,000. DORCHESTER WEALTH MANAGEMENT Co increased its stake in shares of Bank of Montreal by 0.4% in the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 183,463 shares of the bank’s stock worth $17,669,000 after acquiring an additional 788 shares in the last quarter. Wealthspire Advisors LLC increased its stake in shares of Bank of Montreal by 2.0% in the 4th quarter. Wealthspire Advisors LLC now owns 6,355 shares of the bank’s stock worth $617,000 after acquiring an additional 125 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in Bank of Montreal by 140.9% during the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank’s stock valued at $59,000 after purchasing an additional 358 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank of Montreal Stock Performance

Shares of NYSE BMO opened at $104.13 on Wednesday. The firm’s 50-day moving average price is $98.79 and its 200-day moving average price is $93.68. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The company has a market cap of $75.90 billion, a PE ratio of 14.92, a PEG ratio of 1.43 and a beta of 1.09. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $106.00.

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

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be issued a $1.1329 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.35%. Bank of Montreal’s dividend payout ratio (DPR) is presently 63.18%.

Analysts Set New Price Targets

Several brokerages recently commented on BMO. StockNews.com downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Scotiabank raised shares of 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. Royal Bank of Canada raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $133.00 to $161.00 in a research report on Wednesday, January 8th. Finally, Cibc World Mkts raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. One equities 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $128.00.

Bank of Montreal 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.