Valeo Financial Advisors LLC Boosts Holdings in Bank of Montreal (NYSE:BMO)

Valeo Financial Advisors LLC grew its stake in shares of Bank of Montreal (NYSE:BMO – Free Report) (TSE:BMO) by 4.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,865 shares of the bank’s stock after purchasing an additional 125 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Bank of Montreal were worth $278,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. CWM LLC grew its position in shares of Bank of Montreal by 54.0% during the third quarter. CWM LLC now owns 1,318 shares of the bank’s stock valued at $119,000 after purchasing an additional 462 shares in the last quarter. Creative Planning grew its holdings in Bank of Montreal by 16.8% during the 3rd quarter. Creative Planning now owns 34,231 shares of the bank’s stock valued at $3,088,000 after buying an additional 4,918 shares in the last quarter. Blue Trust Inc. increased its stake in Bank of Montreal by 207.8% in the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock worth $56,000 after acquiring an additional 451 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Bank of Montreal by 3.6% during the 3rd quarter. Signaturefd LLC now owns 8,894 shares of the bank’s stock worth $802,000 after acquiring an additional 313 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Bank of Montreal by 3.2% during the 3rd quarter. Private Advisor Group LLC now owns 21,094 shares of the bank’s stock valued at $1,903,000 after acquiring an additional 662 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BMO. Cibc World Mkts raised shares of 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 Tuesday, February 11th. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. Royal Bank of Canada upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $133.00 to $161.00 in a research report on Wednesday, January 8th. Finally, CIBC upgraded shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, December 6th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.00.

Check Out Our Latest Analysis on Bank of Montreal

Bank of Montreal Price Performance

BMO opened at $101.08 on Tuesday. The business has a fifty day moving average of $98.57 and a 200 day moving average of $92.68. The stock has a market cap of $73.79 billion, a P/E ratio of 14.48, a PEG ratio of 1.40 and a beta of 1.09. 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 52-week low of $76.98 and a 52-week 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 paid a dividend of $1.1329 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Thursday, January 30th. Bank of Montreal’s payout ratio is currently 63.32%.

About Bank of Montreal

(Free Report)

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.

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