North Star Asset Management Inc. lessened its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 9.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,154 shares of the bank’s stock after selling 1,830 shares during the quarter. North Star Asset Management Inc.’s holdings in Bank Of Montreal were worth $1,260,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its position in Bank Of Montreal by 1.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock worth $102,000 after purchasing an additional 15 shares in the last quarter. IFP Advisors Inc grew its position in Bank Of Montreal by 11.5% in the second quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock valued at $118,000 after acquiring an additional 166 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Bank Of Montreal in the first quarter valued at approximately $121,000. IHT Wealth Management LLC grew its position in Bank Of Montreal by 38.7% in the first quarter. IHT Wealth Management LLC now owns 2,150 shares of the bank’s stock valued at $160,000 after acquiring an additional 600 shares in the last quarter. Finally, Hudock Capital Group LLC grew its position in Bank Of Montreal by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,593 shares of the bank’s stock valued at $190,000 after acquiring an additional 9 shares in the last quarter. 42.74% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal (NYSE BMO) traded up 0.27% during trading on Friday, hitting $78.13. The stock had a trading volume of 458,455 shares. The firm has a market cap of $50.71 billion, a PE ratio of 11.68 and a beta of 1.04. The company’s 50-day moving average is $75.10 and its 200 day moving average is $73.06. Bank Of Montreal has a 52 week low of $62.32 and a 52 week high of $78.28.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data 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 return on equity of 14.36% and a net margin of 20.04%. The firm had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period in the previous year, the business posted $1.94 EPS. Bank Of Montreal’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts expect that Bank Of Montreal will post $6.44 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be issued a dividend of $0.717 per share. This represents a $2.87 annualized dividend and a dividend yield of 3.67%. 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 dividend payout ratio (DPR) is presently 46.91%.

Bank Of Montreal announced that its Board of Directors has authorized a stock buyback program on Friday, June 23rd that permits the company to buyback 4,000,000 outstanding shares. This buyback authorization permits the bank to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

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Several analysts have issued reports on the stock. BidaskClub raised shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. 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. Canaccord Genuity assumed coverage on shares of Bank Of Montreal in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Finally, 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 research report on Tuesday, July 18th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $99.00.

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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