Rathbone Brothers plc held its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,928 shares of the bank’s stock at the end of the 2nd quarter. Rathbone Brothers plc’s holdings in Bank Of Montreal were worth $4,247,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the business. TD Asset Management Inc. raised its stake in Bank Of Montreal by 1.5% in the second quarter. TD Asset Management Inc. now owns 25,134,177 shares of the bank’s stock valued at $1,842,821,000 after buying an additional 383,382 shares during the period. Bank of Nova Scotia raised its stake in Bank Of Montreal by 3.1% in the first quarter. Bank of Nova Scotia now owns 16,561,393 shares of the bank’s stock valued at $1,237,062,000 after buying an additional 490,813 shares during the period. Vanguard Group Inc. increased its stake in shares of Bank Of Montreal by 4.5% during the first quarter. Vanguard Group Inc. now owns 13,844,325 shares of the bank’s stock worth $1,035,417,000 after purchasing an additional 602,298 shares during the period. Acadian Asset Management LLC increased its stake in shares of Bank Of Montreal by 5.4% during the second quarter. Acadian Asset Management LLC now owns 7,292,805 shares of the bank’s stock worth $534,707,000 after purchasing an additional 372,000 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in shares of Bank Of Montreal by 7.1% during the second quarter. Great West Life Assurance Co. Can now owns 5,707,527 shares of the bank’s stock worth $417,991,000 after purchasing an additional 379,748 shares during the period. Hedge funds and other institutional investors own 42.76% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece was first posted by BBNS and is owned by of BBNS. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://baseballnewssource.com/markets/rathbone-brothers-plc-holds-position-in-bank-of-montreal-bmo/1603169.html.
A number of equities analysts have recently weighed in on BMO shares. BidaskClub lowered Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, July 18th. Canaccord Genuity set a $102.00 target price on Bank Of Montreal and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Finally, Scotiabank restated a “buy” rating and set a $101.00 price objective on shares of Bank Of Montreal in a research note on Wednesday, August 30th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $97.20.
Shares of Bank Of Montreal (BMO) opened at 75.24 on Friday. The firm has a market cap of $48.83 billion, a P/E ratio of 11.58 and a beta of 1.03. The firm has a 50 day moving average price of $73.75 and a 200-day moving average price of $72.93. Bank Of Montreal has a one year low of $62.32 and a one year high of $78.00.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, August 29th. The bank reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.04). The firm had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.52 billion. Bank Of Montreal had a return on equity of 14.36% and a net margin of 20.04%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 EPS. Analysts forecast that Bank Of Montreal will post $6.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be issued a $0.717 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $2.87 annualized dividend and a dividend yield of 3.81%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s dividend payout ratio is presently 45.28%.
Bank Of Montreal declared that its board has approved a share buyback plan on Friday, June 23rd that permits the company to repurchase 4,000,000 outstanding shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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.
Receive News & Ratings for Bank Of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank Of Montreal and related companies with our FREE daily email newsletter.