Bank Of Montreal (BMO) Shares Bought by LSV Asset Management
LSV Asset Management lifted its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 7.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,800 shares of the bank’s stock after acquiring an additional 4,800 shares during the period. LSV Asset Management’s holdings in Bank Of Montreal were worth $5,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of the company. TD Asset Management Inc. boosted 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 worth $1,842,821,000 after acquiring an additional 383,382 shares during the last quarter. Bank of Nova Scotia boosted 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 worth $1,237,062,000 after acquiring an additional 490,813 shares during the last quarter. Vanguard Group Inc. boosted 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 worth $1,035,417,000 after acquiring an additional 602,298 shares during the last quarter. Acadian Asset Management LLC boosted 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 worth $534,707,000 after acquiring an additional 372,000 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted 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 worth $417,991,000 after acquiring an additional 379,748 shares during the last quarter. 42.76% of the stock is currently owned by hedge funds and other institutional investors.
Bank Of Montreal (BMO) opened at 75.21 on Monday. The stock has a market cap of $48.81 billion, a P/E ratio of 11.58 and a beta of 1.03. Bank Of Montreal has a 12 month low of $62.32 and a 12 month high of $78.00. The company’s 50-day moving average price is $73.81 and its 200-day moving average price is $73.01.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, August 29th. The bank reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). The company had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.52 billion. Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. Bank Of Montreal’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.94 EPS. Equities analysts forecast that Bank Of Montreal will post $6.60 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Wednesday, November 1st will be issued a dividend of $0.717 per share. This represents a $2.87 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Tuesday, October 31st. This is a boost from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s dividend payout ratio is 45.28%.
Bank Of Montreal announced that its Board of Directors has approved a share repurchase plan on Friday, June 23rd that authorizes the company to buyback 4,000,000 outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
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BMO has been the topic of a number of research analyst reports. Barclays PLC raised Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. Royal Bank Of Canada lowered their price target on Bank Of Montreal to $108.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 25th. Zacks Investment Research lowered Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. They noted that the move was a valuation call. Finally, BidaskClub raised Bank Of Montreal from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $97.20.
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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