Bank of Montreal (NYSE:BMO) is DORCHESTER WEALTH MANAGEMENT Co’s 2nd Largest Position

DORCHESTER WEALTH MANAGEMENT Co boosted its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 183,463 shares of the bank’s stock after acquiring an additional 788 shares during the period. Bank of Montreal comprises approximately 3.5% of DORCHESTER WEALTH MANAGEMENT Co’s portfolio, making the stock its 2nd largest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Bank of Montreal were worth $17,669,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BMO. Wilmington Savings Fund Society FSB purchased a new stake in Bank of Montreal in the third quarter valued at $45,000. 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 valued at $50,000 after acquiring an additional 393 shares during the last quarter. Blue Trust Inc. lifted its position in Bank of Montreal by 207.8% in the third quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after acquiring an additional 451 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Bank of Montreal by 140.9% in the fourth quarter. First Horizon Advisors Inc. now owns 612 shares of the bank’s stock valued at $59,000 after acquiring an additional 358 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Bank of Montreal by 47.5% in 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. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank of Montreal Trading Down 0.4 %

NYSE BMO opened at $100.53 on Friday. The stock has a market capitalization of $73.27 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.43 and a beta of 1.09. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $104.63. The firm has a 50-day moving average price of $98.65 and a 200 day moving average price of $93.30. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be issued a dividend of $1.1329 per share. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal’s dividend payout ratio is currently 63.32%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BMO. Royal Bank of Canada raised 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 report on Wednesday, January 8th. StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday. Cibc World Mkts raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. Finally, CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $128.00.

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.