Bank Of Montreal (NYSE:BMO) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. lowered its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 7.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,252 shares of the bank’s stock after selling 873 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Bank Of Montreal were worth $826,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of BMO. Sabal Trust CO boosted its position in Bank Of Montreal by 6.0% in the second quarter. Sabal Trust CO now owns 318,482 shares of the bank’s stock worth $23,389,000 after buying an additional 18,002 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its position in Bank Of Montreal by 7.9% in the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 163,179 shares of the bank’s stock worth $11,973,000 after buying an additional 11,892 shares during the last quarter. US Bancorp DE boosted its position in Bank Of Montreal by 1.4% in the second quarter. US Bancorp DE now owns 65,829 shares of the bank’s stock worth $4,835,000 after buying an additional 893 shares during the last quarter. Aperio Group LLC boosted its position in Bank Of Montreal by 5.2% in the second quarter. Aperio Group LLC now owns 394,174 shares of the bank’s stock worth $28,948,000 after buying an additional 19,472 shares during the last quarter. Finally, Ronna Sue Cohen boosted its position in Bank Of Montreal by 2.1% in the second quarter. Ronna Sue Cohen now owns 36,234 shares of the bank’s stock worth $2,661,000 after buying an additional 740 shares during the last quarter. 47.89% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal (NYSE BMO) traded up 0.09% on Monday, reaching $76.89. 72,072 shares of the company’s stock were exchanged. Bank Of Montreal has a 1-year low of $62.32 and a 1-year high of $78.00. The firm has a market capitalization of $50.13 billion, a price-to-earnings ratio of 12.23 and a beta of 1.01. The stock’s 50 day moving average price is $72.01 and its 200 day moving average price is $73.34.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 24th. The bank reported $1.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.05. Bank Of Montreal had a net margin of 19.60% and a return on equity of 14.25%. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the company earned $1.73 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, analysts expect that Bank Of Montreal will post $6.34 earnings per share for the current year.

Bank Of Montreal announced that its board has authorized a share buyback program on Thursday, April 27th that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 1st will be issued a $0.6616 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 3.44%. Bank Of Montreal’s dividend payout ratio (DPR) is presently 43.85%.

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A number of research firms recently weighed in on BMO. Zacks Investment Research raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, July 18th. Canaccord Genuity began coverage on shares of Bank Of Montreal in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. BidaskClub raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. TD Securities raised shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. They noted that the move was a valuation call. Finally, Royal Bank Of Canada decreased their price target on shares of Bank Of Montreal to $108.00 and set a “sector perform” rating for the company in a research report on Thursday, May 25th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Bank Of Montreal currently has an average rating of “Hold” and a consensus 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.

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

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