Bank Of Montreal (BMO) Shares Sold by WFG Advisors LP
WFG Advisors LP lowered its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 7.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,000 shares of the bank’s stock after selling 150 shares during the period. WFG Advisors LP’s holdings in Bank Of Montreal were worth $147,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Hudock Capital Group LLC increased its stake in shares of Bank Of Montreal by 0.3% during the 2nd quarter. Hudock Capital Group LLC now owns 2,593 shares of the bank’s stock worth $190,000 after purchasing an additional 9 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of 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 during the last quarter. Thompson Investment Management Inc. increased its stake in shares of Bank Of Montreal by 1.6% during the 2nd quarter. Thompson Investment Management Inc. now owns 5,767 shares of the bank’s stock worth $424,000 after purchasing an additional 90 shares during the last quarter. Patten Group Inc. increased its stake in shares of Bank Of Montreal by 3.4% during the 1st quarter. Patten Group Inc. now owns 3,533 shares of the bank’s stock worth $264,000 after purchasing an additional 115 shares during the last quarter. Finally, Nwam LLC increased its stake in shares of Bank Of Montreal by 2.2% during the 2nd quarter. Nwam LLC now owns 7,050 shares of the bank’s stock worth $518,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 42.74% of the company’s stock.
Bank Of Montreal (NYSE:BMO) traded down 0.28% on Friday, reaching $78.61. 73,500 shares of the company were exchanged. The firm has a market capitalization of $51.02 billion, a P/E ratio of 11.75 and a beta of 1.04. The firm has a 50-day moving average of $75.70 and a 200 day moving average of $73.17. Bank Of Montreal has a 12-month low of $62.32 and a 12-month high of $78.86.
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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($0.04). The firm had revenue of $5.46 billion during 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 business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the company earned $1.94 earnings per share. On average, equities analysts predict that Bank Of Montreal will post $6.46 earnings per share for the current 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 paid a $0.717 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This is a boost from Bank Of Montreal’s previous quarterly dividend of $0.66. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.64%. Bank Of Montreal’s dividend payout ratio is 46.91%.
Bank Of Montreal announced that its Board of Directors has initiated a share buyback program on Friday, June 23rd that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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Several equities research analysts have recently issued reports on BMO shares. BidaskClub upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Canaccord Genuity started coverage on shares of Bank Of Montreal in a research note on Tuesday, July 18th. They set a “hold” rating for the company. Zacks Investment Research upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Tuesday, July 18th. Finally, Scotiabank restated a “buy” rating and set a $101.00 price target on shares of Bank Of Montreal in a research note on Wednesday, August 30th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Bank Of Montreal currently has an average rating of “Hold” and an average price target of $99.00.
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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