Dorsey & Whitney Trust CO LLC reduced its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,656 shares of the bank’s stock after selling 30 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Bank Of Montreal were worth $341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Bank Of Montreal by 1.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock valued at $102,000 after purchasing an additional 15 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Bank Of Montreal by 11.5% during the second quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock valued at $118,000 after purchasing an additional 166 shares in the last quarter. BNP Paribas Arbitrage SA bought a new position in shares of Bank Of Montreal during the first quarter valued at $121,000. Parallel Advisors LLC lifted its holdings in shares of Bank Of Montreal by 5.0% during the first quarter. Parallel Advisors LLC now owns 2,071 shares of the bank’s stock valued at $145,000 after purchasing an additional 99 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in shares of Bank Of Montreal by 38.7% during the first quarter. IHT Wealth Management LLC now owns 2,150 shares of the bank’s stock valued at $160,000 after purchasing an additional 600 shares in the last quarter. 42.77% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have 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 report on Tuesday, July 18th. Scotiabank reissued a “buy” rating and issued a $101.00 target price on shares of Bank Of Montreal in a report on Wednesday, August 30th. Canaccord Genuity set a $102.00 target price on Bank Of Montreal and gave the company a “hold” rating in a report on Tuesday, August 29th. Royal Bank Of Canada lowered their target price on Bank Of Montreal to $108.00 and set a “sector perform” rating on the stock in a report on Thursday, May 25th. Finally, 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. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $97.20.

Shares of Bank Of Montreal (BMO) opened at 75.21 on Friday. The stock has a market cap of $48.81 billion, a PE ratio of 11.58 and a beta of 1.03. The firm has a 50-day moving average price of $73.81 and a 200-day moving average price of $73.01. Bank Of Montreal has a 12 month low of $62.32 and a 12 month high of $78.00.

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 for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.04). Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. Bank Of Montreal’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities analysts forecast that Bank Of Montreal will post $6.63 EPS for the current year.

Bank Of Montreal declared that its Board of Directors has authorized a stock buyback plan on Friday, June 23rd that allows the company to repurchase 4,000,000 shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 1st will be paid a $0.717 dividend. This represents a $2.87 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Tuesday, October 31st. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s payout ratio is currently 45.28%.

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

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