Andra AP fonden Has $9.19 Million Stock Position in Bank Of Montreal $BMO

Key Points

• Andra AP fonden increased its Bank of Montreal stake by 76.9% in the second quarter, purchasing 22,600 additional shares to own 52,000 shares valued at approximately $9.19 million. Institutional investors collectively hold 45.82% of the bank’s stock.
• Bank of Montreal exceeded quarterly expectations with EPS of $2.84 versus the $2.71 consensus and revenue of $7.10 billion, up 10.1% year over year. The company also declared a quarterly dividend of $1.71 per share, representing a 3.9% annualized yield.
• Analyst sentiment remains mixed, with five Buy, six Hold and one Sell rating, resulting in a consensus rating of Hold and an average price target of $163, below the reported share price of $174.35.

Andra AP fonden grew its holdings in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 76.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,000 shares of the bank's stock after purchasing an additional 22,600 shares during the period. Andra AP fonden's holdings in Bank Of Montreal were worth $9,188,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. HighTower Advisors LLC increased its position in shares of Bank Of Montreal by 0.3% in the second quarter. HighTower Advisors LLC now owns 22,179 shares of the bank's stock valued at $3,919,000 after acquiring an additional 58 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Bank Of Montreal by 1.9% during the 2nd quarter. Versant Capital Management Inc now owns 4,241 shares of the bank's stock worth $749,000 after purchasing an additional 78 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Bank Of Montreal by 33.2% in the 4th quarter. Larson Financial Group LLC now owns 317 shares of the bank's stock valued at $41,000 after buying an additional 79 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of Bank Of Montreal by 2.9% in the first quarter. Checchi Capital Advisers LLC now owns 3,141 shares of the bank's stock valued at $425,000 after buying an additional 88 shares in the last quarter. Finally, Turn8 Private Wealth Inc. increased its stake in shares of Bank Of Montreal by 0.8% during the 1st quarter. Turn8 Private Wealth Inc. now owns 11,215 shares of the bank's stock worth $1,514,000 after purchasing an additional 93 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

Bank Of Montreal Stock Performance

NYSE BMO opened at $174.35 on Wednesday. The firm has a 50-day moving average price of $177.24 and a two-hundred day moving average price of $163.11. Bank Of Montreal has a 12-month low of $119.84 and a 12-month high of $187.22. The company has a market capitalization of $121.19 billion, a P/E ratio of 19.68, a P/E/G ratio of 0.94 and a beta of 0.93. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Tuesday, August 25th. The bank reported $2.84 EPS for the quarter, topping the consensus estimate of $2.71 by $0.13. The company had revenue of $7.10 billion for 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 business's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the firm earned $3.23 earnings per share. Analysts anticipate that Bank Of Montreal will post 12.13 earnings per share for the current year.

Bank Of Montreal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, October 30th. Bank Of Montreal's payout ratio is currently 54.29%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BMO shares. TD Securities reiterated a "buy" rating on shares of Bank Of Montreal in a report on Wednesday, August 12th. Royal Bank Of Canada restated a "sector perform" rating on shares of Bank Of Montreal in a research note on Thursday, August 27th. Scotiabank reaffirmed an "outperform" rating on shares of Bank Of Montreal in a research report on Wednesday, August 26th. Canadian Imperial Bank of Commerce downgraded Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a research note on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods started coverage on shares of Bank Of Montreal in a research report on Friday, August 21st. They issued an "outperform" rating on the stock. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Bank Of Montreal presently has a consensus rating of "Hold" and an average price target of $163.00.

Bank Of Montreal Company Profile

Bank of Montreal, operating under the BMO Financial Group brand, is a diversified financial services company headquartered in Montreal, Quebec. Founded in 1817, it is one of Canada's largest banks and serves individuals, businesses, institutions and governments through operations in Canada and the United States.

BMO's personal and commercial banking businesses provide deposit accounts, mortgages, consumer lending, credit cards, investment products and financial planning services. The bank also offers commercial lending, treasury management and other banking solutions to businesses of various sizes.

Through BMO Wealth Management, the company provides investment management, private banking, financial planning and related advisory services.

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