World Asset Management Inc Decreases Holdings in Bank of Montreal (NYSE:BMO)

World Asset Management Inc cut its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,234 shares of the bank’s stock after selling 460 shares during the quarter. World Asset Management Inc’s holdings in Bank of Montreal were worth $697,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Greystone Managed Investments Inc. boosted its holdings in Bank of Montreal by 11.8% in the second quarter. Greystone Managed Investments Inc. now owns 593,207 shares of the bank’s stock valued at $44,906,000 after acquiring an additional 62,645 shares in the last quarter. AE Wealth Management LLC bought a new stake in Bank of Montreal in the second quarter valued at $326,000. Cascade Investment Advisors Inc. boosted its holdings in Bank of Montreal by 1.4% in the second quarter. Cascade Investment Advisors Inc. now owns 14,875 shares of the bank’s stock valued at $1,122,000 after acquiring an additional 205 shares in the last quarter. Archford Capital Strategies LLC boosted its holdings in Bank of Montreal by 3.2% in the second quarter. Archford Capital Strategies LLC now owns 20,228 shares of the bank’s stock valued at $1,526,000 after acquiring an additional 623 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Bank of Montreal during the 2nd quarter valued at $210,000. 42.05% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BMO stock traded down $0.53 during mid-day trading on Friday, reaching $73.15. 426,718 shares of the company’s stock traded hands, compared to its average volume of 512,099. Bank of Montreal has a 12 month low of $62.79 and a 12 month high of $84.36. The firm has a market cap of $47.79 billion, a P/E ratio of 10.46, a P/E/G ratio of 2.15 and a beta of 1.16. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $75.70.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 29th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.03. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.60 billion. Bank of Montreal had a return on equity of 14.54% and a net margin of 17.27%. Bank of Montreal’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 EPS. On average, sell-side analysts expect that Bank of Montreal will post 7.12 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Thursday, August 1st will be given a $0.769 dividend. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $3.08 dividend on an annualized basis and a yield of 4.21%. Bank of Montreal’s payout ratio is 45.06%.

A number of analysts have recently commented on the stock. Howard Weil cut shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, May 30th. Barclays restated a “hold” rating on shares of Bank of Montreal in a report on Tuesday, June 11th. ValuEngine cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday. Scotia Howard Weill restated a “sector perform” rating on shares of Bank of Montreal in a report on Thursday, May 30th. Finally, Zacks Investment Research upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $97.00.

Bank of Montreal Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.

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

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