Stephens Inc. AR Boosts Position in Bank Of Montreal (BMO)

Stephens Inc. AR lifted its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 21.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,689 shares of the bank’s stock after acquiring an additional 2,200 shares during the period. Stephens Inc. AR’s holdings in Bank Of Montreal were worth $932,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. USS Investment Management Ltd acquired a new stake in shares of Bank Of Montreal during the 2nd quarter valued at approximately $6,314,000. Blair William & Co. IL raised its position in shares of Bank Of Montreal by 6.5% during the 2nd quarter. Blair William & Co. IL now owns 16,738 shares of the bank’s stock valued at $1,229,000 after acquiring an additional 1,023 shares in the last quarter. CGOV Asset Management raised its position in shares of Bank Of Montreal by 13.1% during the 1st quarter. CGOV Asset Management now owns 8,627 shares of the bank’s stock valued at $857,000 after acquiring an additional 1,000 shares in the last quarter. Intact Investment Management Inc. raised its position in shares of Bank Of Montreal by 106.6% during the 2nd quarter. Intact Investment Management Inc. now owns 575,323 shares of the bank’s stock valued at $54,782,000 after acquiring an additional 296,840 shares in the last quarter. Finally, Pennsylvania Trust Co acquired a new stake in shares of Bank Of Montreal during the 2nd quarter valued at approximately $217,000. 42.77% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal (BMO) opened at 75.21 on Friday. The company’s 50-day moving average price is $73.81 and its 200 day moving average price is $73.01. Bank Of Montreal has a 52 week low of $62.32 and a 52 week high of $78.00. The company has a market cap of $48.81 billion, a PE ratio of 11.58 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 EPS for the quarter, missing the Thomson Reuters’ 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 firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the business posted $1.94 earnings per share. On average, analysts anticipate that Bank Of Montreal will post $6.63 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be paid a $0.717 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $0.66. This represents a $2.87 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Tuesday, October 31st. Bank Of Montreal’s dividend payout ratio (DPR) is 45.28%.

Bank Of Montreal announced that its board has approved a stock buyback plan on Friday, June 23rd that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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Several equities research analysts have weighed in on the company. Royal Bank Of Canada dropped their target price on Bank Of Montreal to $108.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 25th. BidaskClub raised Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Scotiabank reaffirmed a “buy” rating and issued a $101.00 target price on shares of Bank Of Montreal in a research report on Wednesday, August 30th. Canaccord Genuity assumed coverage on Bank Of Montreal in a research report on Tuesday, July 18th. They issued a “hold” rating on the stock. Finally, Barclays PLC raised 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 stock. The company currently has a consensus rating of “Hold” and a consensus target price of $97.20.

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

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