Teachers Retirement System of The State of Kentucky lowered its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 10.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 191,000 shares of the bank’s stock after selling 23,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Bank Of Montreal were worth $14,027,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Hudock Capital Group LLC boosted its holdings in Bank Of Montreal by 0.3% in the 2nd quarter. Hudock Capital Group LLC now owns 2,593 shares of the bank’s stock worth $190,000 after buying an additional 9 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in Bank Of Montreal by 1.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock worth $102,000 after buying an additional 15 shares during the period. Johnson Financial Group Inc. boosted its holdings in Bank Of Montreal by 0.3% in the 1st quarter. Johnson Financial Group Inc. now owns 21,732 shares of the bank’s stock worth $1,625,000 after buying an additional 55 shares during the period. Thompson Investment Management Inc. boosted its holdings in Bank Of Montreal by 1.6% in the 2nd quarter. Thompson Investment Management Inc. now owns 5,767 shares of the bank’s stock worth $424,000 after buying an additional 90 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in Bank Of Montreal by 5.0% in the 1st 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. 42.76% of the stock is owned by institutional investors.

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Several research analysts have commented on the stock. Scotiabank reissued a “buy” rating and set a $101.00 price objective on shares of Bank Of Montreal in a report on Wednesday, August 30th. BidaskClub raised shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Canaccord Genuity set a $102.00 price objective on shares of Bank Of Montreal and gave the company a “hold” rating in a report on Tuesday, August 29th. Zacks Investment Research raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, July 18th. Finally, TD Securities raised shares of 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Bank Of Montreal has a consensus rating of “Hold” and an average price target of $97.20.

Shares of Bank Of Montreal (NYSE BMO) traded down 0.09% on Tuesday, hitting $74.92. 48,042 shares of the company were exchanged. Bank Of Montreal has a 52-week low of $62.32 and a 52-week high of $78.00. The firm’s 50-day moving average is $73.75 and its 200-day moving average is $72.93. The stock has a market capitalization of $48.62 billion, a PE ratio of 11.20 and a beta of 1.03.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 29th. The bank reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). The company had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Bank Of Montreal had a return on equity of 14.36% and a net margin of 20.04%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.94 EPS. Equities research analysts predict that Bank Of Montreal will post $6.52 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be paid a dividend of $0.717 per share. The ex-dividend date is Tuesday, October 31st. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.82%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s payout ratio is currently 45.28%.

Bank Of Montreal declared that its board has authorized a share repurchase program on Friday, June 23rd that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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

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