Commerce Bank Maintains Holdings in Bank Of Montreal (BMO)

Commerce Bank maintained its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,244 shares of the bank’s stock at the end of the second quarter. Commerce Bank’s holdings in Bank Of Montreal were worth $238,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BMO. Bronfman E.L. Rothschild L.P. lifted its stake in Bank Of Montreal by 1.7% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,377 shares of the bank’s stock valued at $103,000 after purchasing an additional 23 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Bank Of Montreal by 11.5% during the second quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock valued at $118,000 after acquiring an additional 166 shares during the last quarter. BNP Paribas Arbitrage SA bought a new position in shares of Bank Of Montreal during the first quarter valued at $121,000. Parallel Advisors LLC raised its stake in shares of Bank Of Montreal by 5.0% during the first quarter. Parallel Advisors LLC now owns 2,071 shares of the bank’s stock valued at $145,000 after acquiring an additional 99 shares during the last quarter. Finally, IHT Wealth Management LLC raised its stake in shares of Bank Of Montreal by 38.7% during the first quarter. IHT Wealth Management LLC now owns 2,150 shares of the bank’s stock valued at $160,000 after acquiring an additional 600 shares during the last quarter. 42.77% of the stock is owned by institutional investors and hedge funds.

BMO has been the subject of several analyst reports. Citigroup Inc. raised shares of Bank Of Montreal from a “neutral” rating to a “buy” rating in a research note on Thursday, May 18th. Barclays PLC raised shares of Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. Royal Bank Of Canada dropped their price target on shares of Bank Of Montreal to $108.00 and set a “sector perform” rating for the company in a research note on Thursday, May 25th. Zacks Investment Research downgraded shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. Finally, TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $97.20.

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Bank Of Montreal (NYSE BMO) opened at 75.08 on Wednesday. Bank Of Montreal has a 52 week low of $62.32 and a 52 week high of $78.00. The company’s 50-day moving average is $73.98 and its 200-day moving average is $72.98. The company has a market cap of $50.80 billion, a P/E ratio of 11.65 and a beta of 1.03.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 29th. The bank reported $1.53 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 for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the prior year, the company earned $1.94 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, analysts anticipate that Bank Of Montreal will post $6.63 EPS for the current fiscal year.

Bank Of Montreal declared that its Board of Directors has approved a stock buyback program on Friday, June 23rd that authorizes the company to repurchase 4,000,000 shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 1st will be issued a dividend of $0.717 per share. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. This represents a $2.87 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Tuesday, October 31st. Bank Of Montreal’s dividend payout ratio is currently 45.28%.

About Bank Of Montreal

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.

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

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