Metis Global Partners LLC Has $2.33 Million Stock Holdings in Bank of Montreal (NYSE:BMO)

Metis Global Partners LLC cut its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 4.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,782 shares of the bank’s stock after selling 1,258 shares during the period. Metis Global Partners LLC’s holdings in Bank of Montreal were worth $2,326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Bank of Montreal during the second quarter valued at $34,000. Rothschild Investment LLC purchased a new position in shares of Bank of Montreal during the second quarter valued at $40,000. GHP Investment Advisors Inc. grew its holdings in shares of Bank of Montreal by 244.1% during the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after buying an additional 393 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Bank of Montreal by 34.6% during the first quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $56,000 after buying an additional 160 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings 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 in the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank of Montreal Price Performance

NYSE BMO opened at $93.18 on Friday. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $100.12. 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 stock has a market capitalization of $67.98 billion, a PE ratio of 14.67, a P/E/G ratio of 2.40 and a beta of 1.10. The stock has a 50-day simple moving average of $90.66 and a 200 day simple moving average of $88.14.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $8.25 billion. During the same period in the prior year, the firm posted $2.08 EPS. Bank of Montreal’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts anticipate that Bank of Montreal will post 8 EPS for the current year.

Bank of Montreal Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be issued a $1.123 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $4.49 annualized dividend and a yield of 4.82%. Bank of Montreal’s dividend payout ratio (DPR) is 72.13%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BMO shares. Scotiabank downgraded Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $123.00 to $112.00 in a report on Wednesday, August 28th. Barclays lowered their target price on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. Jefferies Financial Group downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. TD Securities downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, StockNews.com downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.