Schroder Investment Management Group trimmed its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 25.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,948 shares of the bank’s stock after selling 19,010 shares during the period. Schroder Investment Management Group’s holdings in Bank Of Montreal were worth $5,439,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. TD Asset Management Inc. lifted its holdings in Bank Of Montreal by 1.5% in the 2nd 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 in the last quarter. Bank of Nova Scotia lifted its holdings in Bank Of Montreal by 3.1% in the 1st 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 in the last quarter. Vanguard Group Inc. lifted its holdings in Bank Of Montreal by 4.5% in the 1st 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 in the last quarter. Acadian Asset Management LLC lifted its holdings in Bank Of Montreal by 5.4% in the 2nd 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 in the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in Bank Of Montreal by 7.1% in the 2nd 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 in the last quarter. Institutional investors own 42.76% of the company’s stock.
Shares of Bank Of Montreal (NYSE BMO) opened at 74.69 on Tuesday. 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 $73.78 and its 200-day moving average is $72.94. The firm has a market cap of $48.47 billion, a P/E ratio of 11.50 and a beta of 1.03.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, August 29th. The bank reported $1.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.04). The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.52 billion. Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 earnings per share. Equities research analysts forecast that Bank Of Montreal will post $6.60 earnings per share for the current fiscal year.
Bank Of Montreal declared that its Board of Directors has authorized a share buyback plan on Friday, June 23rd that authorizes the company to repurchase 4,000,000 outstanding shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be issued a dividend of $0.717 per share. This represents a $2.87 annualized dividend and a dividend yield of 3.84%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, October 31st. Bank Of Montreal’s payout ratio is currently 45.28%.
A number of research analysts have issued reports on the stock. BidaskClub upgraded shares of Bank Of Montreal from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th. Zacks Investment Research upgraded shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. 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. Canaccord Genuity assumed coverage on shares of Bank Of Montreal in a research note on Tuesday, July 18th. They set a “hold” rating for the company. 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 stock. Bank Of Montreal has an average rating of “Hold” and an average target price of $97.20.
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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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