Addenda Capital Inc. Has $73.82 Million Stock Position in Bank of Montreal (NYSE:BMO)

Addenda Capital Inc. lifted its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 5.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 760,614 shares of the bank’s stock after buying an additional 39,848 shares during the quarter. Bank of Montreal makes up about 3.4% of Addenda Capital Inc.’s investment portfolio, making the stock its 6th largest position. Addenda Capital Inc. owned about 0.10% of Bank of Montreal worth $73,818,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in Bank of Montreal in the 2nd quarter worth $34,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Bank of Montreal in the third quarter worth about $45,000. GHP Investment Advisors Inc. lifted its position in shares of Bank of Montreal by 244.1% in the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after buying an additional 393 shares in the last quarter. Blue Trust Inc. boosted its stake in Bank of Montreal by 207.8% during the third quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after buying an additional 451 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Bank of Montreal by 47.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank’s stock valued at $66,000 after buying an additional 219 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

BMO has been the topic of a number of research reports. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. CIBC upgraded shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, December 6th. StockNews.com lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Tuesday, December 17th. Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $133.00 to $161.00 in a research report on Wednesday, January 8th. One investment 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. Based on data from MarketBeat, Bank of Montreal has a consensus rating of “Hold” and an average price target of $128.00.

Bank of Montreal Trading Down 0.2 %

BMO stock opened at $98.99 on Tuesday. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $104.63. The stock has a market capitalization of $72.23 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. 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 firm’s fifty day simple moving average is $96.75 and its two-hundred day simple moving average is $90.76.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be paid a dividend of $1.1329 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date is Thursday, January 30th. Bank of Montreal’s payout ratio is currently 65.62%.

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.