Cromwell Holdings LLC Has $157,000 Stock Holdings in Bank of Montreal (NYSE:BMO)

Cromwell Holdings LLC raised its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 37.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,739 shares of the bank’s stock after buying an additional 473 shares during the quarter. Cromwell Holdings LLC’s holdings in Bank of Montreal were worth $157,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BMO. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Bank of Montreal in the second quarter worth $34,000. Rothschild Investment LLC acquired a new stake in Bank of Montreal in the 2nd quarter worth $40,000. EverSource Wealth Advisors LLC increased its holdings in shares of Bank of Montreal by 34.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock worth $56,000 after purchasing an additional 160 shares during the period. Blue Trust Inc. raised its position in shares of 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, Olistico Wealth LLC bought a new stake in shares of Bank of Montreal in the second quarter valued at about $59,000. 45.82% of the stock is owned by institutional investors.

Bank of Montreal Trading Down 0.7 %

Shares of BMO stock opened at $92.78 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $67.66 billion, a P/E ratio of 15.41, a P/E/G ratio of 2.47 and a beta of 1.11. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12. The firm has a 50-day moving average price of $88.34 and a 200 day moving average price of $88.22.

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

Bank of Montreal Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be given a dividend of $1.123 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $4.49 annualized dividend and a yield of 4.84%. Bank of Montreal’s dividend payout ratio (DPR) is 76.08%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BMO. Royal Bank of Canada lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. StockNews.com lowered Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $134.00 to $117.00 in a research note on Wednesday, August 28th. Barclays dropped their price objective on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Finally, TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average 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.