OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 11.8% during the first quarter, Holdings Channel reports. The institutional investor owned 26,133 shares of the bank’s stock after buying an additional 2,748 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Bank Of Montreal were worth $1,946,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. CGOV Asset Management increased its position in shares of Bank Of Montreal by 13.1% in the first quarter. CGOV Asset Management now owns 8,627 shares of the bank’s stock valued at $857,000 after buying an additional 1,000 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Bank Of Montreal by 8.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,665,146 shares of the bank’s stock worth $119,910,000 after buying an additional 133,964 shares during the period. North Star Investment Management Corp. increased its stake in Bank Of Montreal by 69.2% in the first quarter. North Star Investment Management Corp. now owns 6,724 shares of the bank’s stock worth $503,000 after buying an additional 2,749 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in Bank Of Montreal during the first quarter worth $150,000. Finally, Sabal Trust CO increased its stake in Bank Of Montreal by 5.0% in the first quarter. Sabal Trust CO now owns 300,480 shares of the bank’s stock worth $22,473,000 after buying an additional 14,208 shares during the period. Institutional investors and hedge funds own 47.66% of the company’s stock.
Bank Of Montreal (BMO) traded down 1.22% on Wednesday, hitting $69.46. The company’s stock had a trading volume of 512,335 shares. Bank Of Montreal has a 1-year low of $60.93 and a 1-year high of $78.00. The company has a market capitalization of $45.29 billion, a P/E ratio of 11.63 and a beta of 1.02. The company has a 50 day moving average price of $69.03 and a 200-day moving average price of $73.03.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Wednesday, May 24th. The bank reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.05. Bank Of Montreal had a net margin of 19.60% and a return on equity of 14.25%. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same period in the previous year, the business earned $1.73 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. On average, equities analysts forecast that Bank Of Montreal will post $6.02 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Tuesday, August 1st will be paid a $0.6616 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.65 annualized dividend and a yield of 3.81%. Bank Of Montreal’s payout ratio is currently 43.85%.
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A number of equities research analysts have weighed in on BMO shares. Citigroup Inc. upgraded Bank Of Montreal from a “neutral” rating to a “buy” rating in a research report on Thursday, May 18th. Scotiabank upgraded Bank Of Montreal from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, March 1st. TD Securities upgraded 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. Zacks Investment Research downgraded Bank Of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, May 25th. Finally, Barclays PLC upgraded Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $88.38.
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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