K.J. Harrison & Partners Inc reduced its position in shares of Bank Of Montreal (NYSE:BMO) by 6.1% during the second quarter, Holdings Channel reports. The institutional investor owned 6,049 shares of the company’s stock after selling 390 shares during the period. K.J. Harrison & Partners Inc’s holdings in Bank Of Montreal were worth $381,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. OLD National Bancorp IN raised its stake in shares of Bank Of Montreal by 59.9% in the first quarter. OLD National Bancorp IN now owns 7,778 shares of the company’s stock worth $472,000 after buying an additional 2,915 shares in the last quarter. Investment Centers of America Inc. purchased a new stake in shares of Bank Of Montreal during the first quarter valued at approximately $287,000. Commonwealth Equity Services Inc raised its stake in shares of Bank Of Montreal by 8.2% in the first quarter. Commonwealth Equity Services Inc now owns 31,320 shares of the company’s stock valued at $1,901,000 after buying an additional 2,374 shares during the period. Virginia Retirement System purchased a new stake in shares of Bank Of Montreal during the first quarter valued at approximately $36,427,000. Finally, CIBC World Markets Inc. raised its stake in shares of Bank Of Montreal by 0.9% in the first quarter. CIBC World Markets Inc. now owns 26,989,010 shares of the company’s stock valued at $1,637,963,000 after buying an additional 249,113 shares during the period. 48.03% of the stock is currently owned by institutional investors.
Bank Of Montreal (NYSE:BMO) traded down 1.59% during mid-day trading on Friday, hitting $65.10. The stock had a trading volume of 391,516 shares. The stock has a market cap of $41.99 billion, a PE ratio of 12.75 and a beta of 1.04. Bank Of Montreal has a one year low of $47.54 and a one year high of $67.69. The firm’s 50-day moving average is $65.51 and its 200 day moving average is $63.59.
Bank Of Montreal (NYSE:BMO) last posted its quarterly earnings data on Tuesday, August 23rd. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The business earned $5.63 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Bank Of Montreal had a net margin of 17.82% and a return on equity of 12.66%. The business’s revenue was up 16.7% on a year-over-year basis. During the same period last year, the firm posted $1.86 earnings per share. Equities research analysts expect that Bank Of Montreal will post $5.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Tuesday, November 1st will be issued a $0.6696 dividend. The ex-dividend date is Friday, October 28th. This is a boost from Bank Of Montreal’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a dividend yield of 4.11%. Bank Of Montreal’s dividend payout ratio (DPR) is 52.47%.
Several equities research analysts have recently commented on BMO shares. Dundee Securities started coverage on Bank Of Montreal in a research note on Wednesday. They set a “neutral” rating on the stock. Credit Suisse Group AG reissued a “hold” rating on shares of Bank Of Montreal in a research note on Sunday, September 11th. Zacks Investment Research raised Bank Of Montreal from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Thursday, August 4th. National Bank Financial reissued a “sector perform” rating and set a $88.00 price target (up previously from $84.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. Finally, TD Securities lowered Bank Of Montreal from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research note on Thursday, May 26th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $83.67.
About Bank Of Montreal
Bank of Montreal (BMO) is a financial services company. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank’s operating groups include Personal and Commercial Banking, Wealth Management, BMO Capital Markets (BMO CM) and Corporate Services, including Technology and Operations.
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