Atomi Financial Group Inc. Acquires 2,801 Shares of Bank of Montreal (NYSE:BMO)

Atomi Financial Group Inc. grew its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 71.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,709 shares of the bank’s stock after buying an additional 2,801 shares during the period. Atomi Financial Group Inc.’s holdings in Bank of Montreal were worth $651,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of BMO. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Bank of Montreal by 261.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,249,552 shares of the bank’s stock worth $383,449,000 after purchasing an additional 3,074,389 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Bank of Montreal by 14.9% in the 3rd quarter. Toronto Dominion Bank now owns 11,812,353 shares of the bank’s stock worth $1,065,474,000 after purchasing an additional 1,534,508 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Bank of Montreal in the 4th quarter worth $760,000. FMR LLC lifted its holdings in shares of Bank of Montreal by 14.2% in the 3rd quarter. FMR LLC now owns 5,046,721 shares of the bank’s stock worth $455,397,000 after purchasing an additional 625,797 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Bank of Montreal by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,321,849 shares of the bank’s stock worth $303,130,000 after purchasing an additional 307,466 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BMO shares. CIBC upgraded Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Tuesday, December 17th. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note 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 objective for the company from $133.00 to $161.00 in a research note on Wednesday, January 8th. Finally, Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Bank of Montreal presently has an average rating of “Hold” and an average price target of $128.00.

Bank of Montreal Trading Up 0.0 %

Shares of Bank of Montreal stock opened at $100.14 on Friday. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $104.63. The firm has a market cap of $73.09 billion, a PE ratio of 14.35, a P/E/G ratio of 1.41 and a beta of 1.09. The stock has a fifty day moving average price of $97.11 and a 200-day moving average price of $91.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98.

Bank of Montreal Increases Dividend

The firm 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. The ex-dividend date is Thursday, January 30th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a dividend yield of 4.53%. Bank of Montreal’s dividend payout ratio (DPR) is currently 65.62%.

Bank of Montreal Company 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.