Mainstay Capital Management LLC ADV Has $1.76 Million Position in Bank of Montreal (BMO)

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Mainstay Capital Management LLC ADV reduced its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 9.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,720 shares of the bank’s stock after selling 2,369 shares during the quarter. Bank of Montreal makes up 1.4% of Mainstay Capital Management LLC ADV’s investment portfolio, making the stock its 20th largest holding. Mainstay Capital Management LLC ADV’s holdings in Bank of Montreal were worth $1,755,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beutel Goodman & Co Ltd. increased its position in shares of Bank of Montreal by 5,646.1% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 6,276,187 shares of the bank’s stock valued at $485,226,000 after purchasing an additional 6,166,961 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Bank of Montreal by 43.0% during the 2nd quarter. Toronto Dominion Bank now owns 13,516,956 shares of the bank’s stock valued at $1,048,839,000 after purchasing an additional 4,067,728 shares during the last quarter. OMERS ADMINISTRATION Corp increased its position in shares of Bank of Montreal by 22.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 5,480,512 shares of the bank’s stock valued at $413,701,000 after purchasing an additional 1,016,130 shares during the last quarter. CIBC World Markets Inc. increased its position in shares of Bank of Montreal by 7.2% during the 1st quarter. CIBC World Markets Inc. now owns 12,418,594 shares of the bank’s stock valued at $938,473,000 after purchasing an additional 831,633 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Bank of Montreal by 89.6% during the 2nd quarter. Renaissance Technologies LLC now owns 909,295 shares of the bank’s stock valued at $70,268,000 after purchasing an additional 429,800 shares during the last quarter. 43.12% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on the company. Canaccord Genuity raised Bank of Montreal from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Royal Bank of Canada raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Wednesday, July 18th. BMO Capital Markets raised Bank of Montreal to a “$78.97” rating in a research report on Wednesday, July 18th. Zacks Investment Research raised Bank of Montreal from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research report on Monday, June 4th. Finally, National Bank Financial raised Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research report on Thursday, May 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Bank of Montreal has a consensus rating of “Buy” and an average target price of $101.00.

Shares of BMO opened at $83.81 on Friday. Bank of Montreal has a fifty-two week low of $73.79 and a fifty-two week high of $84.71. The stock has a market capitalization of $53.63 billion, a P/E ratio of 13.43, a PEG ratio of 1.46 and a beta of 1.11. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.14.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Investors of record on Thursday, November 1st will be issued a $0.7386 dividend. This represents a $2.95 annualized dividend and a yield of 3.52%. The ex-dividend date is Wednesday, October 31st. Bank of Montreal’s dividend payout ratio (DPR) is currently 47.28%.

Bank of Montreal Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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