Bluestein R H & Co. Has $367,000 Holdings in Bank Of Montreal (BMO)
Bluestein R H & Co. held its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,000 shares of the bank’s stock at the end of the second quarter. Bluestein R H & Co.’s holdings in Bank Of Montreal were worth $367,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in the business. M&T Bank Corp grew its position in Bank Of Montreal by 6.2% in the 2nd quarter. M&T Bank Corp now owns 57,833 shares of the bank’s stock valued at $4,247,000 after acquiring an additional 3,393 shares during the last quarter. Vanguard Group Inc. grew its position in Bank Of Montreal by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 14,592,498 shares of the bank’s stock valued at $1,071,673,000 after acquiring an additional 748,173 shares during the last quarter. South Texas Money Management Ltd. grew its position in Bank Of Montreal by 1.9% in the 2nd quarter. South Texas Money Management Ltd. now owns 684,977 shares of the bank’s stock valued at $50,305,000 after acquiring an additional 12,978 shares during the last quarter. Public Sector Pension investment Board grew its position in Bank Of Montreal by 13,359.7% in the 2nd quarter. Public Sector Pension investment Board now owns 1,291,596 shares of the bank’s stock valued at $94,699,000 after acquiring an additional 1,282,000 shares during the last quarter. Finally, Pinebridge Investments L.P. grew its position in Bank Of Montreal by 11.5% in the 2nd quarter. Pinebridge Investments L.P. now owns 106,001 shares of the bank’s stock valued at $10,093,000 after acquiring an additional 10,925 shares during the last quarter. 42.76% of the stock is currently owned by institutional investors.
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Shares of Bank Of Montreal (NYSE BMO) opened at 75.24 on Monday. The stock has a market capitalization of $48.83 billion, a PE ratio of 11.25 and a beta of 1.03. The company’s 50 day moving average price is $73.75 and its 200-day moving average price is $72.93. Bank Of Montreal has a 52 week low of $62.32 and a 52 week high of $78.00.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 29th. The bank reported $1.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($0.04). The company had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the business posted $1.94 earnings per share. Equities research analysts predict that Bank Of Montreal will post $6.52 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 1st will be issued a $0.717 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. This represents a $2.87 dividend on an annualized basis and a yield of 3.81%. Bank Of Montreal’s dividend payout ratio (DPR) is 45.28%.
Bank Of Montreal declared that its board has initiated a share buyback plan on Friday, June 23rd that authorizes the company to repurchase 4,000,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Several brokerages have commented on BMO. Zacks Investment Research raised Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, July 18th. Canaccord Genuity began coverage on Bank Of Montreal in a research report on Tuesday, July 18th. They issued a “hold” rating on the stock. BidaskClub downgraded Bank Of Montreal from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Scotiabank reaffirmed a “buy” rating and issued a $101.00 price objective on shares of Bank Of Montreal in a research report on Wednesday, August 30th. Finally, TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a research 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 assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $97.20.
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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