Bank Of Montreal (BMO) Stake Lessened by Prudential PLC

Prudential PLC trimmed its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 38.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,300 shares of the bank’s stock after selling 11,200 shares during the quarter. Prudential PLC’s holdings in Bank Of Montreal were worth $1,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. TD Asset Management Inc. lifted its stake in shares of Bank Of Montreal by 1.5% in the 2nd quarter. TD Asset Management Inc. now owns 25,134,177 shares of the bank’s stock valued at $1,842,821,000 after purchasing an additional 383,382 shares during the period. Bank of Nova Scotia lifted its stake in shares of Bank Of Montreal by 3.1% in the 1st quarter. Bank of Nova Scotia now owns 16,561,393 shares of the bank’s stock valued at $1,237,062,000 after purchasing an additional 490,813 shares during the period. Vanguard Group Inc. lifted its stake in shares of Bank Of Montreal by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 14,592,498 shares of the bank’s stock valued at $1,071,673,000 after purchasing an additional 748,173 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Bank Of Montreal by 5.4% in the 2nd quarter. Acadian Asset Management LLC now owns 7,292,805 shares of the bank’s stock valued at $534,707,000 after purchasing an additional 372,000 shares during the period. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Bank Of Montreal by 7.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 5,707,527 shares of the bank’s stock valued at $417,991,000 after purchasing an additional 379,748 shares during the period. 42.74% of the stock is currently owned by institutional investors.

Shares of Bank Of Montreal (BMO) opened at 77.40 on Wednesday. The company has a market capitalization of $50.23 billion, a price-to-earnings ratio of 11.57 and a beta of 1.04. The firm’s 50-day moving average price is $74.67 and its 200-day moving average price is $72.97. Bank Of Montreal has a one year low of $62.32 and a one year high of $78.00.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data 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). Bank Of Montreal had a return on equity of 14.36% and a net margin of 20.04%. The company had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter last year, the business earned $1.94 earnings per share. The business’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts anticipate that Bank Of Montreal will post $6.40 earnings per share for the current year.

Bank Of Montreal declared that its board has initiated a stock buyback plan on Friday, June 23rd that allows the company to buyback 4,000,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be issued a dividend of $0.717 per share. This represents a $2.87 annualized dividend and a dividend yield of 3.71%. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, October 31st. Bank Of Montreal’s dividend payout ratio (DPR) is presently 46.91%.

A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Tuesday, July 18th. Canaccord Genuity began coverage on Bank Of Montreal in a research note on Tuesday, July 18th. They set a “hold” rating on the stock. BidaskClub downgraded Bank Of Montreal from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, Scotiabank reaffirmed a “buy” rating and set a $101.00 price target on shares of Bank Of Montreal in a research note on Wednesday, August 30th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $99.00.

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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.

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

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