Van ECK Associates Corp Lowers Holdings in Bank Of Montreal $BMO

Van ECK Associates Corp decreased its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 94.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,505 shares of the bank’s stock after selling 785,678 shares during the quarter. Van ECK Associates Corp’s holdings in Bank Of Montreal were worth $7,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Bank Of Montreal during the 2nd quarter worth $28,000. WFA of San Diego LLC purchased a new stake in Bank Of Montreal in the 2nd quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Bank Of Montreal in the 4th quarter valued at about $29,000. Larson Financial Group LLC lifted its position in Bank Of Montreal by 466.7% in the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after buying an additional 196 shares during the last quarter. Finally, Western Wealth Management LLC acquired a new position in Bank Of Montreal in the first quarter valued at about $38,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Down 1.1%

Bank Of Montreal stock opened at $168.38 on Wednesday. The firm has a market capitalization of $117.39 billion, a P/E ratio of 19.00, a P/E/G ratio of 1.01 and a beta of 0.93. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10. Bank Of Montreal has a twelve month low of $119.51 and a twelve month high of $187.22. The stock’s fifty day simple moving average is $177.78 and its 200-day simple moving average is $159.86.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 25th. The bank reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.13. Bank Of Montreal had a return on equity of 13.60% and a net margin of 11.72%.The firm had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period last year, the business posted $3.23 earnings per share. Bank Of Montreal’s revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts expect that Bank Of Montreal will post 10.76 earnings per share for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 26th. Stockholders of record on Friday, October 30th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, October 30th. Bank Of Montreal’s dividend payout ratio (DPR) is presently 54.29%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BMO shares. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Royal Bank Of Canada restated a “sector perform” rating on shares of Bank Of Montreal in a report on Thursday, August 27th. Weiss Ratings cut shares of Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Barclays reiterated an “underweight” rating on shares of Bank Of Montreal in a report on Friday, August 21st. Finally, TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $163.00.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.