Crossmark Global Holdings Inc. Invests $5.36 Million in Bank Of Montreal (BMO)

Crossmark Global Holdings Inc. acquired a new stake in Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 70,775 shares of the bank’s stock, valued at approximately $5,358,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. lifted its position in shares of Bank Of Montreal by 1.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock valued at $102,000 after buying an additional 15 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Bank Of Montreal by 409.1% in the second quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock valued at $115,000 after buying an additional 1,260 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Bank Of Montreal by 11.5% in the second quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock valued at $118,000 after buying an additional 166 shares during the last quarter. Hudock Capital Group LLC lifted its position in shares of Bank Of Montreal by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,593 shares of the bank’s stock valued at $190,000 after buying an additional 9 shares during the last quarter. Finally, Pennsylvania Trust Co acquired a new stake in shares of Bank Of Montreal in the second quarter valued at approximately $217,000. 42.77% of the stock is owned by institutional investors.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 29th. The bank reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.04). The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.52 billion. Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.94 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be issued a $0.717 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. This represents a $2.87 annualized dividend and a dividend yield of 3.74%. Bank Of Montreal’s dividend payout ratio is currently 46.91%.

A number of research firms have recently issued reports on BMO. Macquarie began coverage on Bank Of Montreal in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $81.00 price objective for the company. Zacks Investment Research cut Bank Of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday. Canaccord Genuity began coverage on Bank Of Montreal in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. BidaskClub cut Bank Of Montreal from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, Scotiabank reaffirmed a “buy” rating and issued 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 three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $95.40.

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About Bank Of Montreal

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.

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

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