Partnervest Advisory Services LLC increased its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 0.0% during the second quarter, Holdings Channel reports. The fund owned 5,219 shares of the bank’s stock after buying an additional 2 shares during the period. Partnervest Advisory Services LLC’s holdings in Bank Of Montreal were worth $383,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BMO. TD Asset Management Inc. increased its stake in shares of Bank Of Montreal by 1.5% in the second quarter. TD Asset Management Inc. now owns 25,134,177 shares of the bank’s stock valued at $1,842,821,000 after buying an additional 383,382 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of Bank Of Montreal by 3.1% in the first quarter. Bank of Nova Scotia now owns 16,561,393 shares of the bank’s stock valued at $1,237,062,000 after buying an additional 490,813 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Bank Of Montreal by 4.5% in the first quarter. Vanguard Group Inc. now owns 13,844,325 shares of the bank’s stock valued at $1,035,417,000 after buying an additional 602,298 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Bank Of Montreal by 5.4% in the second quarter. Acadian Asset Management LLC now owns 7,292,805 shares of the bank’s stock valued at $534,707,000 after buying an additional 372,000 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of Bank Of Montreal by 7.1% in the second quarter. Great West Life Assurance Co. Can now owns 5,707,527 shares of the bank’s stock valued at $417,991,000 after buying an additional 379,748 shares during the last quarter. Hedge funds and other institutional investors own 48.33% of the company’s stock.

Shares of Bank Of Montreal (BMO) opened at 74.10 on Thursday. The stock has a market capitalization of $48.31 billion, a PE ratio of 11.70 and a beta of 1.02. Bank Of Montreal has a 52 week low of $62.32 and a 52 week high of $78.00. The company has a 50-day moving average price of $74.71 and a 200 day moving average price of $73.54.

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, topping the Zacks’ consensus estimate of $1.40 by $0.05. Bank Of Montreal had a return on equity of 14.25% and a net margin of 19.60%. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period last year, the company earned $1.73 EPS. Bank Of Montreal’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities analysts forecast that Bank Of Montreal will post $6.30 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Tuesday, August 1st will be given a dividend of $0.6616 per share. This represents a $2.65 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Friday, July 28th. Bank Of Montreal’s dividend payout ratio (DPR) is presently 46.18%.

Bank Of Montreal announced that its Board of Directors has authorized a share buyback plan on Thursday, April 27th that permits the company to buyback 15,000,000 shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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Several 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. TD Securities upgraded 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 downgraded Bank Of Montreal from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Zacks Investment Research downgraded Bank Of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, May 25th. Finally, Barclays PLC upgraded Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 23rd. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Bank Of Montreal has an average rating of “Hold” and a consensus target price of $88.38.

About Bank Of Montreal

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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Institutional Ownership by Quarter for Bank Of Montreal (NYSE:BMO)

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