Bank Of Montreal (BMO) Shares Bought by Baskin Financial Services Inc.

Baskin Financial Services Inc. raised its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 12.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,467 shares of the bank’s stock after purchasing an additional 2,497 shares during the period. Baskin Financial Services Inc.’s holdings in Bank Of Montreal were worth $1,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BMO. Bronfman E.L. Rothschild L.P. raised its position in Bank Of Montreal by 1.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock valued at $102,000 after purchasing an additional 15 shares in the last quarter. Advisory Services Network LLC raised its position in Bank Of Montreal by 409.1% during the second quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock valued at $115,000 after purchasing an additional 1,260 shares in the last quarter. IFP Advisors Inc raised its position in Bank Of Montreal by 11.5% during the second quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock valued at $118,000 after purchasing an additional 166 shares in the last quarter. Hudock Capital Group LLC raised its position in Bank Of Montreal by 0.3% during the second quarter. Hudock Capital Group LLC now owns 2,593 shares of the bank’s stock valued at $190,000 after purchasing an additional 9 shares in the last quarter. Finally, Huntington National Bank raised its position in Bank Of Montreal by 12.2% during the second quarter. Huntington National Bank now owns 2,713 shares of the bank’s stock valued at $200,000 after purchasing an additional 294 shares in the last quarter. Institutional investors and hedge funds own 42.77% of the company’s stock.

Shares of Bank Of Montreal (NYSE:BMO) traded up 0.03% on Monday, hitting $78.02. 112,653 shares of the stock traded hands. Bank Of Montreal has a 52 week low of $62.32 and a 52 week high of $78.86. The firm has a market cap of $50.63 billion, a P/E ratio of 11.67 and a beta of 1.04. The stock has a 50-day moving average price of $76.55 and a 200 day moving average price of $73.32.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, August 29th. The bank reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The firm had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. Bank Of Montreal’s revenue was down 3.1% compared to the same quarter last year. Equities research analysts predict that Bank Of Montreal will post $6.26 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Wednesday, November 1st will be given a $0.717 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.68%. Bank Of Montreal’s payout ratio is presently 46.91%.

Several research analysts have commented on BMO shares. BidaskClub downgraded shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded shares of 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 Tuesday, July 18th. Macquarie started coverage on shares of Bank Of Montreal in a research report on Tuesday, October 24th. They set a “neutral” rating and a $81.00 price objective for the company. Canaccord Genuity set a $102.00 price objective on shares of Bank Of Montreal and gave the company a “hold” rating in a research report on Tuesday, August 29th. Finally, Scotiabank restated a “buy” rating and set a $101.00 price objective on shares of Bank Of Montreal in a research report on Wednesday, August 30th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $95.40.

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

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