Aperio Group LLC Acquires 19,472 Shares of Bank Of Montreal (NYSE:BMO)

Aperio Group LLC boosted its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 394,174 shares of the bank’s stock after buying an additional 19,472 shares during the period. Aperio Group LLC owned 0.06% of Bank Of Montreal worth $28,948,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Hudock Capital Group LLC raised its stake in shares of Bank Of Montreal by 0.3% in the first quarter. Hudock Capital Group LLC now owns 2,584 shares of the bank’s stock worth $193,000 after buying an additional 7 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of 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. Commerce Bank raised its stake in shares of Bank Of Montreal by 1.2% in the first quarter. Commerce Bank now owns 3,244 shares of the bank’s stock worth $243,000 after buying an additional 37 shares during the last quarter. Johnson Financial Group Inc. raised its stake in shares of Bank Of Montreal by 0.3% in the first quarter. Johnson Financial Group Inc. now owns 21,732 shares of the bank’s stock worth $1,625,000 after buying an additional 55 shares during the last quarter. Finally, Schmidt P J Investment Management Inc. raised its stake in shares of Bank Of Montreal by 1.2% in the first quarter. Schmidt P J Investment Management Inc. now owns 5,973 shares of the bank’s stock worth $447,000 after buying an additional 70 shares during the last quarter. 48.33% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal (NYSE:BMO) traded down 0.58% on Friday, hitting $72.52. 483,050 shares of the stock traded hands. The company has a market capitalization of $47.28 billion, a PE 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 has a 50-day moving average price of $74.86 and a 200-day moving average price of $73.52.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Wednesday, May 24th. The bank reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.05. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Bank Of Montreal had a net margin of 19.60% and a return on equity of 14.25%. Bank Of Montreal’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the business earned $1.73 EPS. Analysts forecast that Bank Of Montreal will post $6.30 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Tuesday, August 1st will be paid a $0.6616 dividend. This represents a $2.65 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Friday, July 28th. Bank Of Montreal’s dividend payout ratio (DPR) is presently 46.18%.

Bank Of Montreal announced that its board has approved a share repurchase program on Thursday, April 27th that authorizes the company to repurchase 15,000,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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A number of equities research analysts have recently weighed in on BMO shares. Citigroup Inc. raised shares of Bank Of Montreal from a “neutral” rating to a “buy” rating in a research note on Thursday, May 18th. BidaskClub lowered shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Saturday. TD Securities raised shares of 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. Zacks Investment Research lowered shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. Finally, Barclays PLC raised shares of Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. The company currently 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.

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

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