JNB Advisors LLC Acquires 1,893 Shares of Bank of Montreal (NYSE:BMO)

JNB Advisors LLC boosted its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,251 shares of the bank’s stock after purchasing an additional 1,893 shares during the quarter. JNB Advisors LLC’s holdings in Bank of Montreal were worth $1,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hanson & Doremus Investment Management purchased a new position in Bank of Montreal in the first quarter worth about $25,000. MBE Wealth Management LLC purchased a new position in shares of Bank of Montreal in the 1st quarter worth approximately $27,000. Exchange Traded Concepts LLC increased its position in shares of Bank of Montreal by 4,972.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 558 shares of the bank’s stock valued at $28,000 after purchasing an additional 547 shares during the last quarter. Ballast Advisors LLC bought a new position in shares of Bank of Montreal during the 1st quarter valued at approximately $28,000. Finally, Cerebellum GP LLC purchased a new stake in Bank of Montreal during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 41.01% of the company’s stock.

Shares of BMO stock traded up $0.32 during mid-day trading on Friday, hitting $55.52. The stock had a trading volume of 1,695,601 shares, compared to its average volume of 554,411. Bank of Montreal has a 12-month low of $38.31 and a 12-month high of $79.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50-day moving average is $54.37 and its two-hundred day moving average is $57.99. The firm has a market capitalization of $35.70 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.10. The firm had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.99 billion. Bank of Montreal had a return on equity of 11.85% and a net margin of 13.51%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.30 earnings per share. Analysts expect that Bank of Montreal will post 4.96 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Tuesday, August 4th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $3.04 annualized dividend and a yield of 5.48%. Bank of Montreal’s dividend payout ratio (DPR) is presently 42.82%.

A number of research firms have weighed in on BMO. Barclays cut their price objective on shares of Bank of Montreal from $69.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. Bank of America upped their price target on shares of Bank of Montreal from $53.00 to $75.00 and gave the company an “underperform” rating in a report on Wednesday, May 13th. TD Securities downgraded shares of Bank of Montreal from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Canaccord Genuity boosted their target price on Bank of Montreal from $73.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, ValuEngine upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $77.90.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. 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, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.

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

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