North Star Asset Management Inc. held its position in Bank Of Montreal (NYSE:BMO) during the second quarter, Holdings Channel reports. The firm owned 18,273 shares of the company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in Bank Of Montreal were worth $1,109,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nikko Asset Management Americas Inc. purchased a new position in Bank Of Montreal during the first quarter valued at $253,000. JPMorgan Chase & Co. raised its position in Bank Of Montreal by 22.9% in the first quarter. JPMorgan Chase & Co. now owns 583,652 shares of the company’s stock valued at $35,423,000 after buying an additional 108,633 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Bank Of Montreal during the first quarter valued at $2,868,000. Burgundy Asset Management Ltd. raised its position in Bank Of Montreal by 50.0% in the first quarter. Burgundy Asset Management Ltd. now owns 30,000 shares of the company’s stock valued at $1,822,000 after buying an additional 10,000 shares during the last quarter. Finally, Aviva PLC raised its position in Bank Of Montreal by 2.4% in the first quarter. Aviva PLC now owns 369,448 shares of the company’s stock valued at $22,468,000 after buying an additional 8,557 shares during the last quarter. 48.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bank Of Montreal (NYSE:BMO) traded down 0.71% during trading on Tuesday, reaching $63.20. 290,869 shares of the company were exchanged. Bank Of Montreal has a one year low of $47.54 and a one year high of $67.69. The company has a market capitalization of $40.76 billion, a PE ratio of 12.43 and a beta of 1.00. The firm’s 50 day moving average price is $65.51 and its 200 day moving average price is $64.07.
Bank Of Montreal (NYSE:BMO) last announced its quarterly earnings data on Tuesday, August 23rd. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.83 by $0.11. The company earned $5.63 billion during the quarter, compared to the consensus estimate of $3.88 billion. Bank Of Montreal had a net margin of 17.82% and a return on equity of 12.66%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.86 EPS. Equities research analysts forecast that Bank Of Montreal will post $5.50 earnings per share for the current fiscal 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 given a dividend of $0.6696 per share. This is an increase from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Friday, October 28th. This represents a $2.68 annualized dividend and a dividend yield of 4.21%. Bank Of Montreal’s dividend payout ratio (DPR) is 52.47%.
BMO has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Desjardins reissued a “hold” rating and set a $84.00 price objective (up previously from $82.00) on shares of Bank Of Montreal in a research note on Thursday, August 4th. Barclays PLC reaffirmed an “underweight” rating and issued a $75.00 price target (up previously from $70.00) on shares of Bank Of Montreal in a research note on Sunday, August 21st. Royal Bank Of Canada lifted their price target on shares of Bank Of Montreal from $84.00 to $88.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 24th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $88.00 price target (up previously from $84.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $83.89.
Bank Of Montreal Company Profile
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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