United Services Automobile Association Continues to Hold Stake in Bank Of Montreal (BMO)
United Services Automobile Association continued to hold its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,271 shares of the bank’s stock at the end of the first quarter. United Services Automobile Association’s holdings in Bank Of Montreal were worth $4,508,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Yale Capital Corp. raised its position in Bank Of Montreal by 1.8% in the fourth quarter. Texas Yale Capital Corp. now owns 10,175 shares of the bank’s stock worth $732,000 after buying an additional 175 shares in the last quarter. Renaissance Technologies LLC raised its position in Bank Of Montreal by 57.5% in the fourth quarter. Renaissance Technologies LLC now owns 566,695 shares of the bank’s stock worth $40,756,000 after buying an additional 207,000 shares in the last quarter. First Allied Advisory Services Inc. raised its position in Bank Of Montreal by 3.1% in the fourth quarter. First Allied Advisory Services Inc. now owns 5,285 shares of the bank’s stock worth $380,000 after buying an additional 157 shares in the last quarter. Pacad Investment Ltd. bought a new position in Bank Of Montreal during the fourth quarter worth about $223,000. Finally, Bayesian Capital Management LP bought a new position in Bank Of Montreal during the fourth quarter worth about $819,000. Institutional investors and hedge funds own 47.66% of the company’s stock.
Shares of Bank Of Montreal (BMO) traded up 0.50% on Friday, reaching $70.38. The company’s stock had a trading volume of 411,090 shares. Bank Of Montreal has a 52 week low of $60.93 and a 52 week high of $78.00. The stock has a 50-day moving average of $69.03 and a 200 day moving average of $72.87. The stock has a market capitalization of $45.89 billion, a price-to-earnings ratio of 11.93 and a beta of 1.02.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 24th. The bank reported $1.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.05. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.26 billion. Bank Of Montreal had a return on equity of 14.25% and a net margin of 19.60%. Bank Of Montreal’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 EPS. On average, analysts expect that Bank Of Montreal will post $6.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Tuesday, August 1st will be given a $0.6616 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $2.65 dividend on an annualized basis and a yield of 3.76%. Bank Of Montreal’s payout ratio is 43.85%.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Wednesday, March 1st. Scotiabank upgraded Bank Of Montreal from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, March 1st. BidaskClub upgraded Bank Of Montreal from a “strong sell” rating to a “sell” rating in a research report on Thursday. Barclays PLC upgraded Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, May 23rd. Finally, Royal Bank Of Canada reduced their price objective on Bank Of Montreal to $108.00 and set a “sector perform” rating for the company in a research report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target 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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