Bank Of Montreal (BMO) Holdings Reduced by Capital Fund Management S.A.
Capital Fund Management S.A. cut its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,900 shares of the bank’s stock after selling 571 shares during the quarter. Capital Fund Management S.A.’s holdings in Bank Of Montreal were worth $1,976,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Bronfman E.L. Rothschild L.P. raised its holdings in Bank Of Montreal by 1.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock valued at $102,000 after acquiring an additional 15 shares during the period. IFP Advisors Inc raised its holdings in Bank Of Montreal by 11.5% during the second quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock valued at $118,000 after acquiring an additional 166 shares during the period. BNP Paribas Arbitrage SA bought a new stake in Bank Of Montreal during the first quarter valued at about $121,000. Parallel Advisors LLC raised its holdings in Bank Of Montreal by 5.0% during the first quarter. Parallel Advisors LLC now owns 2,071 shares of the bank’s stock valued at $145,000 after acquiring an additional 99 shares during the period. Finally, IHT Wealth Management LLC raised its holdings in Bank Of Montreal by 38.7% during the first quarter. IHT Wealth Management LLC now owns 2,150 shares of the bank’s stock valued at $160,000 after acquiring an additional 600 shares during the period. 42.77% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on BMO. Citigroup Inc. upgraded Bank Of Montreal from a “neutral” rating to a “buy” rating in a research report on Thursday, May 18th. BidaskClub lowered Bank Of Montreal from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. 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 lowered 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. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $97.20.
Shares of Bank Of Montreal (BMO) opened at 75.45 on Thursday. The firm’s 50-day moving average is $73.92 and its 200-day moving average is $72.97. Bank Of Montreal has a 12-month low of $62.32 and a 12-month high of $78.00. The firm has a market capitalization of $48.97 billion, a price-to-earnings ratio of 11.62 and a beta of 1.03.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 29th. The bank reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The company had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the firm posted $1.94 earnings per share. Bank Of Montreal’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities research analysts forecast that Bank Of Montreal will post $6.63 EPS for the current fiscal year.
Bank Of Montreal announced that its board has initiated a share repurchase plan on Friday, June 23rd that authorizes the company to repurchase 4,000,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 1st will be issued a $0.717 dividend. This represents a $2.87 dividend on an annualized basis and a yield of 3.80%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, October 31st. Bank Of Montreal’s payout ratio is presently 45.28%.
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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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