Bank Of Montreal (BMO) Position Lowered by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale lowered its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 13.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 160,525 shares of the bank’s stock after selling 24,739 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Bank Of Montreal were worth $11,799,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in BMO. Bronfman E.L. Rothschild L.P. boosted its stake in Bank Of Montreal by 1.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,377 shares of the bank’s stock worth $103,000 after buying an additional 23 shares during the period. IFP Advisors Inc boosted its stake in Bank Of Montreal by 11.5% in the second quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock worth $118,000 after buying an additional 166 shares during the period. BNP Paribas Arbitrage SA acquired a new stake in Bank Of Montreal during the first quarter worth $121,000. Parallel Advisors LLC boosted its stake in Bank Of Montreal by 5.0% in the first quarter. Parallel Advisors LLC now owns 2,071 shares of the bank’s stock worth $145,000 after buying an additional 99 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in Bank Of Montreal during the first quarter worth $150,000. 48.33% of the stock is currently owned by institutional investors.
Bank Of Montreal (NYSE BMO) opened at 72.52 on Friday. Bank Of Montreal has a 12-month low of $62.32 and a 12-month high of $78.00. The company has a market cap of $47.28 billion, a PE ratio of 11.45 and a beta of 1.02. The firm has a 50 day moving average price of $74.86 and a 200 day moving average price of $73.52.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Wednesday, May 24th. The bank reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.05. Bank Of Montreal had a net margin of 19.60% and a return on equity of 14.25%. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the business posted $1.73 earnings per share. Bank Of Montreal’s revenue was up 12.5% compared to the same quarter last year. On average, analysts anticipate that Bank Of Montreal will post $6.30 earnings per share for the current fiscal year.
Bank Of Montreal declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 27th that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 1st will be issued a $0.6616 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.65 annualized dividend and a yield of 3.65%. Bank Of Montreal’s dividend payout ratio is currently 46.18%.
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A number of equities research analysts have recently weighed in on BMO shares. Zacks Investment Research raised Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, July 18th. TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. They noted that the move was a valuation call. BidaskClub raised Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Citigroup Inc. raised Bank Of Montreal from a “neutral” rating to a “buy” rating in a report on Thursday, May 18th. Finally, Barclays PLC raised Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $88.38.
Bank Of Montreal Company 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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