Quantinno Capital Management LP Has $823,000 Stake in Bank of Montreal (NYSE:BMO)

Quantinno Capital Management LP grew its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 9.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 9,122 shares of the bank’s stock after buying an additional 802 shares during the period. Quantinno Capital Management LP’s holdings in Bank of Montreal were worth $823,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new position in Bank of Montreal in the 2nd quarter valued at approximately $34,000. Rothschild Investment LLC acquired a new position in shares of Bank of Montreal in the second quarter valued at $40,000. GHP Investment Advisors Inc. lifted its position in 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 purchasing an additional 393 shares during the period. 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 worth $56,000 after buying an additional 451 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in Bank of Montreal in the 2nd quarter valued at $65,000. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Performance

Bank of Montreal stock opened at $99.02 on Friday. The stock has a 50-day simple moving average of $94.24 and a 200 day simple moving average of $88.63. The stock has a market capitalization of $72.25 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 1.42 and a beta of 1.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $104.63.

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 given a dividend of $1.1329 per share. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.58%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal’s dividend payout ratio is presently 67.34%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BMO shares. CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. TD Securities cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Barclays lowered their price target on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $122.40.

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.