Trust Co. of Vermont acquired a new stake in Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,255 shares of the bank's stock, valued at approximately $121,000.
Other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its stake in shares of Bank of Montreal by 3.5% in the second quarter. Commonwealth Equity Services LLC now owns 25,236 shares of the bank's stock worth $2,427,000 after acquiring an additional 844 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Bank of Montreal by 3.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 4,093 shares of the bank's stock worth $394,000 after acquiring an additional 128 shares during the last quarter. Money Concepts Capital Corp boosted its stake in shares of Bank of Montreal by 266.7% in the second quarter. Money Concepts Capital Corp now owns 275 shares of the bank's stock worth $27,000 after acquiring an additional 200 shares during the last quarter. Veriti Management LLC boosted its stake in shares of Bank of Montreal by 2.0% in the second quarter. Veriti Management LLC now owns 7,673 shares of the bank's stock worth $738,000 after acquiring an additional 147 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in shares of Bank of Montreal by 6.6% in the second quarter. Ritholtz Wealth Management now owns 9,762 shares of the bank's stock worth $939,000 after acquiring an additional 608 shares during the last quarter. 42.52% of the stock is owned by institutional investors and hedge funds.
Get Bank of Montreal alerts:Bank of Montreal Price Performance
NYSE:BMO opened at $87.64 on Friday. Bank of Montreal has a 52 week low of $87.28 and a 52 week high of $122.77. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $59.36 billion, a P/E ratio of 6.63, a P/E/G ratio of 1.38 and a beta of 1.17. The stock's fifty day moving average is $96.96 and its two-hundred day moving average is $102.95.
Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) last posted its earnings results on Tuesday, August 30th. The bank reported $2.40 EPS for the quarter, beating analysts' consensus estimates of $2.38 by $0.02. Bank of Montreal had a return on equity of 16.07% and a net margin of 30.66%. The company had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $6.87 billion. During the same quarter in the previous year, the business earned $2.80 earnings per share. The company's revenue for the quarter was down 19.3% on a year-over-year basis. Equities analysts expect that Bank of Montreal will post 10.32 EPS for the current year.Bank of Montreal Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Tuesday, November 1st will be given a $1.086 dividend. The ex-dividend date of this dividend is Monday, October 31st. This represents a $4.34 dividend on an annualized basis and a yield of 4.96%. This is an increase from Bank of Montreal's previous quarterly dividend of $1.08. Bank of Montreal's payout ratio is currently 32.93%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on BMO. Royal Bank of Canada lowered their price target on Bank of Montreal from C$158.00 to C$151.00 in a research note on Wednesday, August 31st. Desjardins lowered their price target on Bank of Montreal from C$153.00 to C$150.00 in a research note on Wednesday, August 31st. StockNews.com lowered Bank of Montreal from a "hold" rating to a "sell" rating in a research note on Wednesday, August 31st. Finally, BMO Capital Markets lowered Bank of Montreal from a "buy" rating to a "reduce" rating and lowered their price objective for the stock from C$152.50 to C$150.50 in a research note on Wednesday, August 31st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Bank of Montreal presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.72.
About Bank of Montreal
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Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.
Further Reading
- Get a free copy of the StockNews.com research report on Bank of Montreal (BMO)
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