Olistico Wealth LLC Invests $59,000 in Bank of Montreal (NYSE:BMO)

Olistico Wealth LLC acquired a new stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 700 shares of the bank’s stock, valued at approximately $59,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its holdings in shares of Bank of Montreal by 1.7% during the 4th quarter. Raymond James & Associates now owns 84,492 shares of the bank’s stock worth $8,360,000 after acquiring an additional 1,409 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Bank of Montreal by 177.4% in the 4th quarter. Global Retirement Partners LLC now owns 527 shares of the bank’s stock valued at $50,000 after purchasing an additional 337 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Bank of Montreal by 6.9% during the 4th quarter. Fifth Third Bancorp now owns 2,599 shares of the bank’s stock valued at $257,000 after buying an additional 168 shares during the period. DAVENPORT & Co LLC acquired a new stake in shares of Bank of Montreal during the 4th quarter worth $223,000. Finally, Harbour Trust & Investment Management Co acquired a new position in Bank of Montreal in the fourth quarter valued at $646,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on BMO shares. Keefe, Bruyette & Woods lowered Bank of Montreal from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $137.00 to $124.00 in a research note on Monday, June 3rd. Desjardins lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Royal Bank of Canada downgraded shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. Finally, UBS Group initiated coverage on shares of Bank of Montreal in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $127.50.

Bank of Montreal Stock Down 0.9 %

Shares of BMO traded down $0.74 during mid-day trading on Wednesday, reaching $80.21. 512,759 shares of the stock traded hands, compared to its average volume of 845,343. The stock has a fifty day simple moving average of $85.14 and a 200 day simple moving average of $90.85. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.12. The firm has a market cap of $58.50 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 2.04 and a beta of 1.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Wednesday, May 29th. The bank reported $1.91 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.10). Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. The firm had revenue of $5.88 billion during the quarter, compared to analysts’ expectations of $5.96 billion. Sell-side analysts expect that Bank of Montreal will post 7.91 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be given a $1.125 dividend. This represents a $4.50 dividend on an annualized basis and a dividend yield of 5.61%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Tuesday, July 30th. Bank of Montreal’s dividend payout ratio is presently 75.25%.

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.