American Assets Investment Management LLC Has $1,836,000 Position in Bank Of Montreal (BMO)
American Assets Investment Management LLC continued to hold its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the bank’s stock at the end of the second quarter. American Assets Investment Management LLC’s holdings in Bank Of Montreal were worth $1,836,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in Bank Of Montreal by 4.8% in the first quarter. Janney Montgomery Scott LLC now owns 16,728 shares of the bank’s stock valued at $1,251,000 after buying an additional 768 shares in the last quarter. Acadian Asset Management LLC raised its stake in Bank Of Montreal by 12.8% in the first quarter. Acadian Asset Management LLC now owns 6,920,805 shares of the bank’s stock valued at $515,459,000 after buying an additional 783,569 shares in the last quarter. Korea Investment CORP raised its stake in Bank Of Montreal by 0.5% in the first quarter. Korea Investment CORP now owns 465,421 shares of the bank’s stock valued at $34,664,000 after buying an additional 2,117 shares in the last quarter. CAPROCK Group Inc. raised its stake in Bank Of Montreal by 11.9% in the first quarter. CAPROCK Group Inc. now owns 9,785 shares of the bank’s stock valued at $732,000 after buying an additional 1,041 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in Bank Of Montreal by 105.6% in the first quarter. Candriam Luxembourg S.C.A. now owns 210,045 shares of the bank’s stock valued at $15,645,000 after buying an additional 107,883 shares in the last quarter. 48.44% of the stock is owned by institutional investors.
Shares of Bank Of Montreal (NYSE BMO) opened at 73.09 on Wednesday. The stock has a 50 day moving average price of $74.98 and a 200-day moving average price of $73.42. Bank Of Montreal has a 1-year low of $62.32 and a 1-year high of $78.00. The company has a market cap of $47.65 billion, a price-to-earnings ratio of 11.54 and a beta of 1.02.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 24th. The bank reported $1.45 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter last year, the firm earned $1.73 EPS. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research analysts forecast that Bank Of Montreal will post $6.28 earnings per share for the current year.
Bank Of Montreal declared that its Board of Directors has approved a share buyback plan on Thursday, April 27th that allows the company to repurchase 15,000,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently declared 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. This represents a $2.65 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Friday, July 28th. Bank Of Montreal’s payout ratio is 46.18%.
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Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, July 18th. Canaccord Genuity assumed coverage on Bank Of Montreal in a research note on Tuesday, July 18th. They set a “hold” rating for the company. BidaskClub lowered Bank Of Montreal from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Barclays PLC raised Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. Finally, Royal Bank Of Canada dropped their price target on Bank Of Montreal to $108.00 and set a “sector perform” rating for the company in a research note on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. Bank Of Montreal presently has a consensus rating of “Hold” and a consensus target price of $88.38.
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.
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