Bronfman E.L. Rothschild L.P. raised its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,392 shares of the bank’s stock after purchasing an additional 15 shares during the quarter. Bronfman E.L. Rothschild L.P.’s holdings in Bank Of Montreal were worth $102,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. TD Asset Management Inc. lifted its position in Bank Of Montreal by 1.5% during the second quarter. TD Asset Management Inc. now owns 25,134,177 shares of the bank’s stock valued at $1,842,821,000 after purchasing an additional 383,382 shares during the last quarter. Bank of Nova Scotia lifted its position in Bank Of Montreal by 3.1% during the first quarter. Bank of Nova Scotia now owns 16,561,393 shares of the bank’s stock valued at $1,237,062,000 after purchasing an additional 490,813 shares during the last quarter. Vanguard Group Inc. lifted its position in Bank Of Montreal by 4.5% during the first quarter. Vanguard Group Inc. now owns 13,844,325 shares of the bank’s stock valued at $1,035,417,000 after purchasing an additional 602,298 shares during the last quarter. Acadian Asset Management LLC lifted its position in Bank Of Montreal by 5.4% during the second quarter. Acadian Asset Management LLC now owns 7,292,805 shares of the bank’s stock valued at $534,707,000 after purchasing an additional 372,000 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in Bank Of Montreal by 7.1% during the second quarter. Great West Life Assurance Co. Can now owns 5,707,527 shares of the bank’s stock valued at $417,991,000 after purchasing an additional 379,748 shares during the last quarter. Institutional investors and hedge funds own 42.77% of the company’s stock.
BMO has been the subject of several research reports. Zacks Investment Research upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Citigroup Inc. upgraded shares of Bank Of Montreal from a “neutral” rating to a “buy” rating in a research report on Thursday, May 18th. Barclays PLC upgraded shares of Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, May 23rd. Royal Bank Of Canada lowered their price objective on shares of Bank Of Montreal to $108.00 and set a “sector perform” rating for the company in a research report on Thursday, May 25th. Finally, TD Securities upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $97.20.
Shares of Bank Of Montreal (BMO) opened at 73.99 on Monday. Bank Of Montreal has a 12-month low of $62.32 and a 12-month high of $78.00. The stock has a 50 day moving average of $74.03 and a 200 day moving average of $73.06. The company has a market cap of $50.06 billion, a price-to-earnings ratio of 11.48 and a beta of 1.03.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, August 29th. The bank reported $1.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.57 by $0.04. Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The firm had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the prior year, the company posted $1.94 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities research analysts predict that Bank Of Montreal will post $6.63 earnings per share for the current fiscal year.
Bank Of Montreal announced that its Board of Directors has initiated a share buyback plan on Friday, June 23rd that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 1st will be issued a $0.717 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.88%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s dividend payout ratio is currently 45.28%.
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Bank Of Montreal Profile
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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