Bank Of Montreal (BMO) Shares Bought by Johnson Financial Group Inc.

Johnson Financial Group Inc. increased its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 21,981 shares of the bank’s stock after buying an additional 249 shares during the quarter. Johnson Financial Group Inc.’s holdings in Bank Of Montreal were worth $1,614,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Hudock Capital Group LLC boosted its holdings in shares of Bank Of Montreal by 0.3% in the 2nd quarter. Hudock Capital Group LLC now owns 2,593 shares of the bank’s stock worth $190,000 after buying an additional 9 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Bank Of Montreal by 1.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock worth $102,000 after buying an additional 15 shares during the last quarter. Commerce Bank boosted its holdings in shares of Bank Of Montreal by 1.2% in the 1st quarter. Commerce Bank now owns 3,244 shares of the bank’s stock worth $243,000 after buying an additional 37 shares during the last quarter. Suntrust Banks Inc. boosted its holdings in shares of Bank Of Montreal by 0.4% in the 1st quarter. Suntrust Banks Inc. now owns 18,747 shares of the bank’s stock worth $1,401,000 after buying an additional 81 shares during the last quarter. Finally, Thompson Investment Management Inc. boosted its holdings in shares of Bank Of Montreal by 1.6% in the 2nd quarter. Thompson Investment Management Inc. now owns 5,767 shares of the bank’s stock worth $424,000 after buying an additional 90 shares during the last quarter. 42.55% of the stock is currently owned by institutional investors.

Shares of Bank Of Montreal (NYSE:BMO) traded up 0.40% during midday trading on Friday, reaching $73.63. The company had a trading volume of 159,602 shares. The company has a 50 day moving average of $74.11 and a 200 day moving average of $73.06. The firm has a market capitalization of $49.82 billion, a price-to-earnings ratio of 11.43 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.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 29th. The bank reported $1.53 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the previous year, the firm earned $1.94 earnings per share. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts anticipate that Bank Of Montreal will post $6.50 EPS for the current year.

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 paid a dividend of $0.717 per share. This represents a $2.87 annualized dividend and a yield of 3.91%. The ex-dividend date is Tuesday, October 31st. This is an increase from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s dividend payout ratio (DPR) is 45.28%.

Bank Of Montreal announced that its Board of Directors has initiated a stock repurchase plan on Friday, June 23rd that allows the company to buyback 4,000,000 outstanding shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

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A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, July 18th. Canaccord Genuity assumed coverage on shares of Bank Of Montreal in a report on Tuesday, July 18th. They issued a “hold” rating on the stock. BidaskClub downgraded shares of Bank Of Montreal from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Scotiabank restated a “buy” rating and issued a $101.00 price objective on shares of Bank Of Montreal in a research note on Wednesday, August 30th. Finally, Barclays PLC upgraded Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $97.20.

About Bank Of Montreal

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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