Cardinal Capital Management Inc. boosted its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 787,535 shares of the bank’s stock after buying an additional 3,662 shares during the period. Bank Of Montreal comprises about 5.8% of Cardinal Capital Management Inc.’s portfolio, making the stock its 4th largest position. Cardinal Capital Management Inc.’s holdings in Bank Of Montreal were worth $57,760,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of the company. CGOV Asset Management boosted its stake in shares of 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 during the last quarter. Berkshire Asset Management LLC PA boosted 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. boosted 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 approximately $259,000. Finally, Capstone Asset Management Co. boosted 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 47.66% of the company’s stock.
Bank Of Montreal (NYSE:BMO) traded up 0.62% during trading on Monday, reaching $74.83. 231,427 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $69.32 and its 200-day moving average price is $73.05. Bank Of Montreal has a 52 week low of $62.32 and a 52 week high of $78.00. The stock has a market capitalization of $48.79 billion, a price-to-earnings ratio of 12.24 and a beta of 1.01.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued 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 during the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the previous year, the company earned $1.73 earnings per share. Bank Of Montreal’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities analysts expect that Bank Of Montreal will post $6.14 EPS for the current year.
The business 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. This represents a $2.65 annualized dividend and a yield of 3.56%. The ex-dividend date is Friday, July 28th. Bank Of Montreal’s payout ratio is currently 43.85%.
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BMO has been the subject of a number of research reports. Zacks Investment Research cut shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. BidaskClub raised shares of Bank Of Montreal from a “strong sell” rating to a “sell” rating in a report on Thursday, June 15th. Barclays PLC raised shares of Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 23rd. Citigroup Inc. raised shares of Bank Of Montreal from a “neutral” rating to a “buy” rating in a report on Thursday, May 18th. Finally, Royal Bank of Canada cut their price target on shares of Bank Of Montreal to $108.00 and set a “sector perform” rating for the company in a report on Thursday, May 25th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $88.38.
About Bank Of Montreal
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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