HighPoint Advisor Group LLC held its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,440 shares of the bank’s stock at the close of the second quarter. HighPoint Advisor Group LLC’s holdings in Bank Of Montreal were worth $257,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BMO. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Bank Of Montreal by 1.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock valued at $102,000 after purchasing an additional 15 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Bank Of Montreal by 11.5% in the second quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock valued at $118,000 after purchasing an additional 166 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new position in shares of Bank Of Montreal in the first quarter valued at approximately $121,000. IHT Wealth Management LLC grew its holdings in shares of Bank Of Montreal by 38.7% in the first quarter. IHT Wealth Management LLC now owns 2,150 shares of the bank’s stock valued at $160,000 after purchasing an additional 600 shares in the last quarter. Finally, Hudock Capital Group LLC grew its holdings in shares of Bank Of Montreal by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,593 shares of the bank’s stock valued at $190,000 after purchasing an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 42.74% of the company’s stock.

A number of research analysts recently weighed in on the stock. Canaccord Genuity assumed coverage on shares of Bank Of Montreal in a report on Tuesday, July 18th. They issued a “hold” rating for the company. BidaskClub upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Zacks Investment Research upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, July 18th. Finally, Scotiabank restated a “buy” rating and issued a $101.00 price objective on shares of Bank Of Montreal in a report on Wednesday, August 30th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $99.00.

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Shares of Bank Of Montreal (NYSE BMO) traded up 0.27% on Friday, reaching $78.13. 458,455 shares of the company were exchanged. The company has a 50-day moving average price of $75.10 and a 200 day moving average price of $73.06. Bank Of Montreal has a 1-year low of $62.32 and a 1-year high of $78.28. The stock has a market capitalization of $50.71 billion, a PE ratio of 11.68 and a beta of 1.04.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, August 29th. The bank reported $1.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.04). Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The firm had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the business earned $1.94 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. On average, analysts forecast that Bank Of Montreal will post $6.44 EPS for the current fiscal year.

Bank Of Montreal announced that its board has authorized a share repurchase program on Friday, June 23rd that authorizes the company to buyback 4,000,000 shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.717 per share. The ex-dividend date is Tuesday, October 31st. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.67%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s dividend payout ratio (DPR) is presently 46.91%.

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

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