Creative Planning boosted its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,262 shares of the bank’s stock after buying an additional 601 shares during the period. Creative Planning’s holdings in Bank Of Montreal were worth $680,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BMO. Skandinaviska Enskilda Banken AB publ purchased a new position in Bank Of Montreal during the first quarter valued at approximately $72,790,000. Acadian Asset Management LLC increased its stake in shares of 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 worth $515,459,000 after buying an additional 783,569 shares in the last quarter. OMERS ADMINISTRATION Corp increased its stake in shares of Bank Of Montreal by 35.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 2,343,497 shares of the bank’s stock worth $174,543,000 after buying an additional 611,200 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Bank Of Montreal by 4.5% in the first quarter. Vanguard Group Inc. now owns 13,844,325 shares of the bank’s stock worth $1,035,417,000 after buying an additional 602,298 shares in the last quarter. Finally, Greystone Managed Investments Inc. bought a new stake in shares of Bank Of Montreal during the first quarter worth about $43,718,000. 48.44% of the stock is currently owned by institutional investors.

Shares of Bank Of Montreal (NYSE:BMO) traded up 0.55% on Friday, reaching $72.76. The company had a trading volume of 327,551 shares. The company’s 50-day moving average is $74.97 and its 200-day moving average is $73.39. The company has a market capitalization of $47.44 billion, a PE ratio of 11.62 and a beta of 1.02. Bank Of Montreal has a one year low of $62.32 and a one year high of $78.00.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 24th. The bank reported $1.45 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. Bank Of Montreal’s revenue was up 12.5% on a year-over-year basis. Equities research analysts predict that Bank Of Montreal will post $6.30 earnings per share for the current year.

Bank Of Montreal declared that its board has initiated a share buyback program on Thursday, April 27th that authorizes the company to repurchase 15,000,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 1st will be paid a $0.6616 dividend. This represents a $2.65 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Friday, July 28th. Bank Of Montreal’s payout ratio is currently 46.18%.

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A number of equities research analysts recently issued reports 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 research report on Tuesday, July 18th. Royal Bank Of Canada reduced their price target on Bank Of Montreal to $108.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 25th. TD Securities upgraded 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. Citigroup Inc. upgraded Bank Of Montreal from a “neutral” rating to a “buy” rating in a research note on Thursday, May 18th. Finally, Canaccord Genuity initiated coverage on Bank Of Montreal in a research note on Tuesday, July 18th. They set a “hold” rating for the company. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Bank Of Montreal has a consensus rating of “Hold” and an average 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.

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

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