Johnson Financial Group Inc. Has $1.61 Million Holdings in Bank Of Montreal (NYSE:BMO)

Johnson Financial Group Inc. boosted its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,981 shares of the bank’s stock after acquiring an additional 249 shares during the period. Johnson Financial Group Inc.’s holdings in Bank Of Montreal were worth $1,614,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Hudock Capital Group LLC boosted its holdings in Bank Of Montreal by 0.3% in the 2nd quarter. Hudock Capital Group LLC now owns 2,593 shares of the bank’s stock valued at $190,000 after purchasing an additional 9 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Bank Of Montreal by 1.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock worth $102,000 after acquiring an additional 15 shares in the last quarter. Commerce Bank boosted its stake in shares of Bank Of Montreal by 1.2% during the 1st quarter. Commerce Bank now owns 3,244 shares of the bank’s stock worth $243,000 after acquiring an additional 37 shares in the last quarter. Suntrust Banks Inc. boosted its stake in shares of Bank Of Montreal by 0.4% during the 1st quarter. Suntrust Banks Inc. now owns 18,747 shares of the bank’s stock worth $1,401,000 after acquiring an additional 81 shares in the last quarter. Finally, Thompson Investment Management Inc. lifted its stake in Bank Of Montreal by 1.6% in the 2nd quarter. Thompson Investment Management Inc. now owns 5,767 shares of the bank’s stock valued at $424,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 42.76% of the company’s stock.

Bank Of Montreal (NYSE:BMO) opened at 75.24 on Friday. The company has a market cap of $48.83 billion, a PE 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 stock’s 50 day moving average is $73.75 and its 200 day moving average is $72.93.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 29th. The bank reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the business posted $1.94 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities analysts predict that Bank Of Montreal will post $6.52 earnings per share for the current year.

Bank Of Montreal announced that its board has approved a stock repurchase program on Friday, June 23rd that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Wednesday, November 1st will be given a dividend of $0.717 per share. The ex-dividend date is Tuesday, October 31st. 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 3.81%. Bank Of Montreal’s dividend payout ratio (DPR) is currently 45.28%.

BMO has been the subject of several analyst reports. Scotiabank reiterated a “buy” rating and issued a $101.00 price target on shares of Bank Of Montreal in a report on Wednesday, August 30th. BidaskClub upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Zacks Investment Research upgraded Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, July 18th. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. They noted that the move was a valuation call. Finally, Canaccord Genuity began coverage on Bank Of Montreal in a report on Tuesday, July 18th. They set a “hold” rating for the company. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Bank Of Montreal currently has a consensus rating of “Hold” and an average price target of $97.20.

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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.

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

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