AGF Management Ltd. Sells 27,857 Shares of Bank Of Montreal $BMO

AGF Management Ltd. lessened its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 606,948 shares of the bank’s stock after selling 27,857 shares during the quarter. AGF Management Ltd. owned approximately 0.08% of Bank Of Montreal worth $67,147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of Bank Of Montreal by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 746,613 shares of the bank’s stock valued at $71,309,000 after purchasing an additional 37,846 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Bank Of Montreal by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 464,123 shares of the bank’s stock worth $44,328,000 after purchasing an additional 3,403 shares during the period. Greenleaf Trust bought a new stake in Bank Of Montreal in the first quarter valued at about $209,000. Cerity Partners LLC lifted its stake in Bank Of Montreal by 11.7% in the first quarter. Cerity Partners LLC now owns 12,197 shares of the bank’s stock valued at $1,165,000 after buying an additional 1,281 shares during the period. Finally, Genus Capital Management Inc. boosted its holdings in Bank Of Montreal by 369.8% during the first quarter. Genus Capital Management Inc. now owns 24,165 shares of the bank’s stock worth $2,307,000 after buying an additional 33,120 shares during the last quarter. 45.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on BMO. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. UBS Group reiterated a “neutral” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Cowen reissued a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Royal Bank Of Canada cut Bank Of Montreal from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $168.00 to $163.00 in a report on Friday, October 3rd. Finally, National Bankshares reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Bank Of Montreal Stock Up 0.5%

Bank Of Montreal stock opened at $123.57 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 1-year low of $85.40 and a 1-year high of $131.36. The company has a fifty day simple moving average of $126.80 and a 200 day simple moving average of $114.67. The company has a market cap of $88.03 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.21. The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $8.84 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.64 EPS. Research analysts anticipate that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be paid a $1.63 dividend. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.18. This represents a $6.52 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Thursday, October 30th. Bank Of Montreal’s dividend payout ratio is 57.28%.

Bank Of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.