Mufg Securities Canada LTD. Sells 56,101 Shares of Bank Of Montreal $BMO

Mufg Securities Canada LTD. reduced its position in Bank Of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 5.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 991,466 shares of the bank’s stock after selling 56,101 shares during the period. Bank Of Montreal accounts for about 4.6% of Mufg Securities Canada LTD.’s holdings, making the stock its 6th largest holding. Mufg Securities Canada LTD.’s holdings in Bank Of Montreal were worth $174,957,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in shares of Bank Of Montreal by 87.1% in the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock worth $548,000 after purchasing an additional 2,673 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Bank Of Montreal during the 2nd quarter worth approximately $1,018,000. Cerity Partners LLC raised its holdings in Bank Of Montreal by 1.4% in the second quarter. Cerity Partners LLC now owns 12,364 shares of the bank’s stock valued at $1,368,000 after buying an additional 167 shares during the period. Qube Research & Technologies Ltd lifted its position in Bank Of Montreal by 166.3% during the second quarter. Qube Research & Technologies Ltd now owns 411,108 shares of the bank’s stock valued at $45,518,000 after buying an additional 256,755 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in Bank Of Montreal by 5,614.3% during the second quarter. NewEdge Advisors LLC now owns 2,800 shares of the bank’s stock valued at $310,000 after buying an additional 2,751 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Stock Performance

Bank Of Montreal stock opened at $170.39 on Tuesday. Bank Of Montreal has a 12-month low of $118.66 and a 12-month high of $187.22. The company has a market capitalization of $118.79 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s fifty day moving average price is $177.88 and its 200 day moving average price is $159.69.

Bank Of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.13. The company had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $6.94 billion. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.23 EPS. On average, research analysts forecast that Bank Of Montreal will post 10.76 EPS for the current fiscal year.

Bank Of Montreal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 26th. Investors of record on Friday, October 30th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.84 dividend on an annualized basis and a yield of 4.0%. Bank Of Montreal’s dividend payout ratio is currently 54.29%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BMO shares. Desjardins reissued a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Barclays reiterated an “underweight” rating on shares of Bank Of Montreal in a report on Friday, August 21st. Canadian Imperial Bank of Commerce cut Bank Of Montreal from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, August 18th. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 26th. Finally, Keefe, Bruyette & Woods assumed coverage on Bank Of Montreal in a research note on Friday, August 21st. They issued an “outperform” rating for the company. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bank Of Montreal has an average rating of “Hold” and a consensus price target of $163.00.

View Our Latest Research Report on Bank Of Montreal

Bank Of Montreal Company Profile

(Free Report)

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.

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

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