Nomura Asset Management Co. Ltd. maintained its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,000 shares of the bank’s stock at the end of the first quarter. Nomura Asset Management Co. Ltd.’s holdings in Bank Of Montreal were worth $372,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of BMO. CGOV Asset Management boosted its stake in Bank Of Montreal by 13.1% in the first quarter. CGOV Asset Management now owns 8,627 shares of the bank’s stock worth $857,000 after buying an additional 1,000 shares in the last quarter. Berkshire Asset Management LLC PA raised its stake in shares of Bank Of Montreal by 8.8% in the first quarter. Berkshire Asset Management LLC PA now owns 102,933 shares of the bank’s stock worth $7,698,000 after buying an additional 8,341 shares during the last quarter. Graybill Bartz & Assoc Ltd. raised its stake in shares of Bank Of Montreal by 0.5% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 31,030 shares of the bank’s stock worth $2,321,000 after buying an additional 150 shares during the last quarter. Starfire Investment Advisers Inc. acquired a new stake in shares of Bank Of Montreal during the first quarter worth about $259,000. Finally, Capstone Asset Management Co. raised its stake in shares of Bank Of Montreal by 6.3% in the first quarter. Capstone Asset Management Co. now owns 65,782 shares of the bank’s stock worth $4,920,000 after buying an additional 3,910 shares during the last quarter. Hedge funds and other institutional investors own 47.86% of the company’s stock.
Bank Of Montreal (NYSE BMO) opened at 76.73 on Thursday. The company’s 50-day moving average price is $71.73 and its 200 day moving average price is $73.32. Bank Of Montreal has a 52-week low of $62.32 and a 52-week high of $78.00. The firm has a market capitalization of $50.03 billion, a price-to-earnings ratio of 12.31 and a beta of 1.01.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Wednesday, May 24th. The bank reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.05. Bank Of Montreal had a return on equity of 14.25% and a net margin of 19.60%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research analysts predict that Bank Of Montreal will post $6.32 earnings per share for the current year.
Bank Of Montreal announced that its Board of Directors has authorized a stock repurchase plan on Thursday, April 27th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.6616 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.65 annualized dividend and a yield of 3.45%. Bank Of Montreal’s payout ratio is 43.85%.
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A number of brokerages have issued reports on BMO. Zacks Investment Research raised Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday. Canaccord Genuity began coverage on Bank Of Montreal in a research note on Tuesday. They issued a “hold” rating on the stock. BidaskClub raised Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Barclays PLC raised Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. Finally, Royal Bank Of Canada decreased their price target on Bank Of Montreal to $108.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 25th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Bank Of Montreal has an average rating of “Hold” and an average target price of $88.38.
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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