Bank Of Montreal $BMO Shares Sold by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR decreased its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 30.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 74,937 shares of the bank’s stock after selling 32,160 shares during the period. Generali Asset Management SPA SGR’s holdings in Bank Of Montreal were worth $12,533,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. HighTower Advisors LLC raised its holdings in Bank Of Montreal by 0.3% during the 2nd quarter. HighTower Advisors LLC now owns 22,179 shares of the bank’s stock worth $3,919,000 after purchasing an additional 58 shares during the last quarter. Carter Financial Group INC. increased its holdings in Bank Of Montreal by 5.8% in the third quarter. Carter Financial Group INC. now owns 1,201 shares of the bank’s stock worth $201,000 after purchasing an additional 66 shares in the last quarter. Versant Capital Management Inc lifted its stake in Bank Of Montreal by 1.9% in the second quarter. Versant Capital Management Inc now owns 4,241 shares of the bank’s stock valued at $749,000 after buying an additional 78 shares during the period. Park Avenue Securities LLC lifted its stake in Bank Of Montreal by 4.2% in the third quarter. Park Avenue Securities LLC now owns 1,967 shares of the bank’s stock valued at $329,000 after buying an additional 80 shares during the period. Finally, Checchi Capital Advisers LLC boosted its holdings in shares of Bank Of Montreal by 2.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,141 shares of the bank’s stock worth $425,000 after buying an additional 88 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Stock Up 1.0%

NYSE:BMO opened at $172.11 on Wednesday. The firm’s 50-day moving average price is $170.63 and its 200-day moving average price is $159.26. Bank Of Montreal has a 1-year low of $119.84 and a 1-year high of $187.22.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly 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. The business had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.94 billion. During the same period last year, the business earned $3.23 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts predict that Bank Of Montreal will post 10.65 EPS for the current fiscal year.

Bank Of Montreal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Shareholders of record on Friday, October 30th will be paid a dividend of C$1.71 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.0%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BMO shares. Keefe, Bruyette & Woods began coverage on Bank Of Montreal in a research report on Friday, August 21st. They set an “outperform” rating on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Bank Of Montreal in a report on Wednesday, August 26th. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a research report on Friday, August 21st. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Bank Of Montreal in a research report on Thursday, August 27th. Finally, Weiss Ratings downgraded Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, October 14th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $244.00.

Bank Of Montreal Company Profile

Bank of Montreal, operating under the BMO Financial Group brand, is a diversified financial services company headquartered in Toronto, Canada. Founded in 1817, it is one of Canada’s oldest banks and serves individual, business, institutional and government customers.

BMO provides personal banking products such as deposit accounts, mortgages, consumer loans, credit cards and investment services. Its commercial banking operations offer lending, treasury management and other financial solutions to small and medium-sized businesses and larger corporate clients.

Through its wealth management business, BMO provides investment management, financial planning, private banking and brokerage services.