Northwestern Mutual Wealth Management Co. grew its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,811 shares of the bank’s stock after buying an additional 384 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Bank Of Montreal were worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. USS Investment Management Ltd bought a new stake in Bank Of Montreal during the second quarter worth about $6,314,000. Blair William & Co. IL grew its stake in Bank Of Montreal by 6.5% during the second quarter. Blair William & Co. IL now owns 16,738 shares of the bank’s stock worth $1,229,000 after buying an additional 1,023 shares during the last quarter. CGOV Asset Management grew its stake in Bank Of Montreal by 13.1% during 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. Intact Investment Management Inc. grew its stake in Bank Of Montreal by 106.6% during the second quarter. Intact Investment Management Inc. now owns 575,323 shares of the bank’s stock worth $54,782,000 after buying an additional 296,840 shares during the last quarter. Finally, Pennsylvania Trust Co bought a new stake in Bank Of Montreal during the second quarter worth about $217,000. 42.77% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on BMO shares. Citigroup Inc. raised shares of Bank Of Montreal from a “neutral” rating to a “buy” rating in a research note on Thursday, May 18th. BidaskClub cut shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. TD Securities raised shares of 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 cut shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. Finally, Barclays PLC raised shares of Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Bank Of Montreal currently has a consensus rating of “Hold” and a consensus target price of $97.20.

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Shares of Bank Of Montreal (BMO) opened at 75.45 on Thursday. The stock has a 50 day moving average of $73.92 and a 200-day moving average of $72.97. Bank Of Montreal has a 1-year low of $62.32 and a 1-year high of $78.00. The company has a market capitalization of $48.97 billion, a price-to-earnings ratio of 11.62 and a beta of 1.03.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 29th. The bank reported $1.53 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.04). The business had revenue of $5.46 billion for the quarter, compared to analysts’ expectations 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 was down 3.1% compared to the same quarter last year. During the same period last year, the business posted $1.94 earnings per share. Analysts forecast that Bank Of Montreal will post $6.63 earnings per share for the current year.

Bank Of Montreal declared that its Board of Directors has initiated a stock repurchase program 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. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Wednesday, November 1st will be paid a dividend of $0.717 per share. The ex-dividend date is Tuesday, October 31st. This is an increase from Bank Of Montreal’s previous quarterly dividend of $0.66. This represents a $2.87 annualized dividend and a dividend yield of 3.80%. Bank Of Montreal’s dividend payout ratio (DPR) is 45.28%.

Bank Of Montreal 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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