Bank Of Montreal $BMO Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 94.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,505 shares of the bank’s stock after selling 785,678 shares during the period. Van ECK Associates Corp’s holdings in Bank Of Montreal were worth $7,505,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Hsbc Holdings PLC boosted its holdings in Bank Of Montreal by 2.7% in the 2nd quarter. Hsbc Holdings PLC now owns 5,188 shares of the bank’s stock worth $915,000 after buying an additional 137 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Bank Of Montreal during the second quarter valued at approximately $18,395,000. Beacon Pointe Advisors LLC purchased a new position in shares of Bank Of Montreal in the second quarter valued at approximately $9,238,000. 49 Wealth Management LLC purchased a new position in shares of Bank Of Montreal in the second quarter valued at approximately $473,000. Finally, North Star Asset Management Inc. acquired a new stake in shares of Bank Of Montreal in the second quarter worth approximately $1,431,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Down 1.1%

Shares of BMO opened at $168.38 on Wednesday. Bank Of Montreal has a 52-week low of $119.51 and a 52-week high of $187.22. The company has a market capitalization of $117.39 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 1.01 and a beta of 0.93. The stock has a fifty day simple moving average of $177.78 and a two-hundred day simple moving average of $159.86. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 25th. The bank reported $2.84 EPS for the quarter, topping the consensus estimate of $2.71 by $0.13. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%.The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same quarter in the previous year, the firm earned $3.23 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts forecast that Bank Of Montreal will post 10.76 EPS for the current year.

Bank Of Montreal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.84 dividend on an annualized basis and a yield of 4.1%. Bank Of Montreal’s payout ratio is 54.29%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 26th. TD Securities reaffirmed a “buy” rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods began coverage on shares of Bank Of Montreal in a report on Friday, August 21st. They set an “outperform” rating for the company. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Bank Of Montreal in a research report on Thursday, August 27th. Finally, Weiss Ratings downgraded shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Bank Of Montreal has an average rating of “Hold” and a consensus target price of $163.00.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.