Royal London Asset Management Ltd. Sells 4,788 Shares of Bank Of Montreal $BMO

Royal London Asset Management Ltd. reduced its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 15.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,537 shares of the bank’s stock after selling 4,788 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Bank Of Montreal were worth $4,689,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in Bank Of Montreal by 87.1% during the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock valued at $548,000 after acquiring an additional 2,673 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Bank Of Montreal in the second quarter worth $1,018,000. Cerity Partners LLC boosted its holdings in shares of Bank Of Montreal by 1.4% in the second quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock worth $1,368,000 after acquiring an additional 167 shares during the period. Qube Research & Technologies Ltd grew its position in shares of Bank Of Montreal by 166.3% in the second quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank’s stock valued at $45,518,000 after purchasing an additional 256,755 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Bank Of Montreal by 5,614.3% in the second quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock valued at $310,000 after purchasing an additional 2,751 shares in the last quarter. 45.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on BMO. Weiss Ratings lowered Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods started coverage on Bank Of Montreal in a research note on Friday, August 21st. They issued an “outperform” rating for the company. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a report on Thursday. Canadian Imperial Bank of Commerce cut Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research report on Tuesday, August 18th. Finally, Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a report on Friday, August 21st. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Bank Of Montreal presently has a consensus rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Trading Down 0.9%

Bank Of Montreal stock opened at $170.39 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01. Bank Of Montreal has a fifty-two week low of $118.66 and a fifty-two week high of $187.22. The stock has a market cap of $118.79 billion, a P/E ratio of 19.23, a PEG ratio of 1.02 and a beta of 0.94. The firm’s fifty day moving average price is $177.88 and its 200-day moving average price is $159.69.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 25th. The bank reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.13. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%.The company had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same quarter last year, the company earned $3.23 earnings per share. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts forecast that Bank Of Montreal will post 10.76 earnings per share for the current fiscal year.

Bank Of Montreal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Stockholders of record on Friday, October 30th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.84 annualized dividend and a dividend yield of 4.0%. Bank Of Montreal’s payout ratio is presently 54.29%.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.