QS Investors LLC Has $343,000 Holdings in Bank Of Montreal (BMO)
QS Investors LLC raised its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 47.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,672 shares of the bank’s stock after acquiring an additional 1,500 shares during the period. QS Investors LLC’s holdings in Bank Of Montreal were worth $343,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of BMO. Bronfman E.L. Rothschild L.P. increased its position 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 last quarter. IFP Advisors Inc increased its position 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 last quarter. BNP Paribas Arbitrage SA bought a new position in Bank Of Montreal during the first quarter valued at $121,000. IHT Wealth Management LLC increased its position 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 last quarter. Finally, Hudock Capital Group LLC increased its position in Bank Of Montreal by 0.3% during the second quarter. Hudock Capital Group LLC now owns 2,593 shares of the bank’s stock valued at $190,000 after acquiring an additional 9 shares during the last quarter. Institutional investors and hedge funds own 42.74% of the company’s stock.
Bank Of Montreal (NYSE BMO) opened at 78.66 on Thursday. The company has a market capitalization of $51.05 billion, a PE ratio of 11.76 and a beta of 1.04. Bank Of Montreal has a 12-month low of $62.32 and a 12-month high of $78.77. The stock has a 50 day moving average of $75.49 and a 200-day moving average of $73.13.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 29th. The bank reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.04). The firm had revenue of $5.46 billion during 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%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 earnings per share. Equities analysts expect that Bank Of Montreal will post $6.46 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Wednesday, November 1st will be given a $0.717 dividend. This is an increase from Bank Of Montreal’s previous quarterly dividend of $0.66. This represents a $2.87 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Tuesday, October 31st. Bank Of Montreal’s payout ratio is currently 46.91%.
Bank Of Montreal declared that its board has authorized a stock repurchase plan on Friday, June 23rd that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, July 18th. Canaccord Genuity assumed coverage on shares of Bank Of Montreal in a research report on Tuesday, July 18th. They set a “hold” rating on the stock. BidaskClub cut shares of Bank Of Montreal from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, Scotiabank reiterated a “buy” rating and set a $101.00 price objective on shares of Bank Of Montreal in a research report on Wednesday, August 30th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $99.00.
Bank Of Montreal 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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