Mawer Investment Management Ltd. Sells 33,791 Shares of Bank of Montreal (NYSE:BMO)

Mawer Investment Management Ltd. trimmed its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 1.2% during the second quarter, Holdings Channel.com reports. The fund owned 2,833,136 shares of the bank’s stock after selling 33,791 shares during the quarter. Bank of Montreal accounts for about 1.4% of Mawer Investment Management Ltd.’s holdings, making the stock its 27th biggest position. Mawer Investment Management Ltd.’s holdings in Bank of Montreal were worth $214,435,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BMO. Geode Capital Management LLC raised its holdings in shares of Bank of Montreal by 13.2% during the 4th quarter. Geode Capital Management LLC now owns 739,643 shares of the bank’s stock valued at $48,362,000 after purchasing an additional 86,282 shares in the last quarter. Eqis Capital Management Inc. bought a new position in shares of Bank of Montreal during the 1st quarter valued at $240,000. Financial Gravity Wealth Inc. bought a new position in shares of Bank of Montreal during the 1st quarter valued at $25,000. Boston Advisors LLC bought a new position in shares of Bank of Montreal during the 1st quarter valued at $206,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Bank of Montreal during the 1st quarter valued at $588,000. 41.25% of the stock is currently owned by institutional investors and hedge funds.

NYSE BMO traded down $0.37 during midday trading on Friday, hitting $69.57. The company had a trading volume of 153,261 shares, compared to its average volume of 389,856. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The stock has a market cap of $44.45 billion, a price-to-earnings ratio of 9.95, a P/E/G ratio of 2.72 and a beta of 1.16. The firm has a fifty day simple moving average of $74.02 and a two-hundred day simple moving average of $75.61. Bank of Montreal has a fifty-two week low of $62.79 and a fifty-two week high of $84.36.

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 company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.60 billion. Bank of Montreal had a net margin of 17.27% and a return on equity of 14.54%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $2.20 EPS. As a group, equities analysts predict that Bank of Montreal will post 7.15 earnings per share for the current year.

The business also recently declared 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 represents a $3.08 annualized dividend and a yield of 4.42%. 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. Bank of Montreal’s dividend payout ratio (DPR) is currently 44.64%.

A number of research analysts have recently weighed in on BMO shares. Zacks Investment Research downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday. Howard Weil downgraded shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, May 30th. ValuEngine downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Scotia Howard Weill restated a “sector perform” rating on shares of Bank of Montreal in a report on Thursday, May 30th. Finally, Barclays restated a “hold” rating on shares of Bank of Montreal in a report on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $97.00.

Bank of Montreal Company 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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