Capstone Asset Management Co. decreased its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,132 shares of the bank’s stock after selling 1,650 shares during the period. Capstone Asset Management Co.’s holdings in Bank Of Montreal were worth $4,710,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the stock. State Street Corp boosted its position in Bank Of Montreal by 85.2% in the fourth quarter. State Street Corp now owns 39,089 shares of the bank’s stock valued at $2,810,000 after buying an additional 17,977 shares during the last quarter. Lincluden Management Ltd. boosted its position in shares of Bank Of Montreal by 64.0% in the fourth quarter. Lincluden Management Ltd. now owns 485,820 shares of the bank’s stock worth $34,905,000 after buying an additional 189,645 shares during the last quarter. Pekin Singer Strauss Asset Management IL raised its stake in Bank Of Montreal by 2.9% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 3,533 shares of the bank’s stock valued at $254,000 after buying an additional 100 shares during the period. UBS Asset Management Americas Inc. raised 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 valued at $119,910,000 after buying an additional 133,964 shares during the period. Finally, Pegasus Partners Ltd. raised its stake in Bank Of Montreal by 11.6% in the fourth quarter. Pegasus Partners Ltd. now owns 25,700 shares of the bank’s stock valued at $1,848,000 after buying an additional 2,670 shares during the period. Hedge funds and other institutional investors own 47.66% of the company’s stock.
Shares of Bank Of Montreal (NYSE:BMO) opened at 74.55 on Tuesday. The stock’s 50 day moving average is $69.32 and its 200-day moving average is $73.05. Bank Of Montreal has a 12-month low of $62.32 and a 12-month high of $78.00. The stock has a market cap of $48.61 billion, a price-to-earnings ratio of 12.20 and a beta of 1.01.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 24th. The bank reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.05. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.26 billion. Bank Of Montreal had a return on equity of 14.25% and a net margin of 19.60%. The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.73 EPS. Equities analysts anticipate that Bank Of Montreal will post $6.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 1st will be paid a $0.6616 dividend. This represents a $2.65 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Friday, July 28th. Bank Of Montreal’s payout ratio is 43.85%.
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Several equities research analysts have recently issued reports on BMO shares. TD Securities upgraded 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. BidaskClub upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Citigroup Inc. upgraded shares of Bank Of Montreal from a “neutral” rating to a “buy” rating in a report on Thursday, May 18th. Barclays PLC upgraded shares of Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 23rd. Finally, Zacks Investment Research lowered shares of Bank Of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company 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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