Benjamin F. Edwards & Company Inc. Has $494,000 Stake in Bank Of Montreal (NYSE:BMO)
Benjamin F. Edwards & Company Inc. held its stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,724 shares of the bank’s stock at the end of the second quarter. Benjamin F. Edwards & Company Inc.’s holdings in Bank Of Montreal were worth $494,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its stake in Bank Of Montreal by 1.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,377 shares of the bank’s stock worth $103,000 after buying an additional 23 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new stake in Bank Of Montreal during the first quarter worth $121,000. Parallel Advisors LLC increased its stake in Bank Of Montreal by 5.0% in the first quarter. Parallel Advisors LLC now owns 2,071 shares of the bank’s stock worth $145,000 after buying an additional 99 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Bank Of Montreal during the first quarter worth $150,000. Finally, IHT Wealth Management LLC increased its stake in Bank Of Montreal by 38.7% in the first quarter. IHT Wealth Management LLC now owns 2,150 shares of the bank’s stock worth $160,000 after buying an additional 600 shares during the last quarter. Institutional investors own 48.33% of the company’s stock.
Shares of Bank Of Montreal (BMO) traded down 0.58% during mid-day trading on Friday, reaching $72.52. The company’s stock had a trading volume of 483,050 shares. The firm has a market cap of $47.28 billion, a P/E ratio of 11.45 and a beta of 1.02. Bank Of Montreal has a 12-month low of $62.32 and a 12-month high of $78.00. The firm’s 50-day moving average price is $74.86 and its 200 day moving average price is $73.52.
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 last year, the company posted $1.73 EPS. The company’s revenue was up 12.5% on a year-over-year basis. On average, analysts expect that Bank Of Montreal will post $6.30 EPS for the current year.
Bank Of Montreal declared that its Board of Directors has authorized a share buyback program on Thursday, April 27th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Tuesday, August 1st will be paid a dividend of $0.6616 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 3.65%. Bank Of Montreal’s dividend payout ratio (DPR) is 46.18%.
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A number of analysts recently weighed in on BMO shares. Zacks Investment Research upgraded Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday, July 18th. TD Securities raised 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. BidaskClub raised Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Citigroup Inc. raised Bank Of Montreal from a “neutral” rating to a “buy” rating in a research note on Thursday, May 18th. Finally, Barclays PLC raised Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $88.38.
Bank Of Montreal Company 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.
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