First National Bank of Mount Dora Trust Investment Services Purchases 2,395 Shares of Bank Of Montreal (NYSE:BMO)

First National Bank of Mount Dora Trust Investment Services increased its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,451 shares of the bank’s stock after purchasing an additional 2,395 shares during the period. Bank Of Montreal accounts for 2.7% of First National Bank of Mount Dora Trust Investment Services’ investment portfolio, making the stock its 8th largest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Bank Of Montreal were worth $5,561,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BMO. Hudock Capital Group LLC increased its holdings in shares of Bank Of Montreal by 0.3% in the 2nd quarter. Hudock Capital Group LLC now owns 2,593 shares of the bank’s stock valued at $190,000 after purchasing an additional 9 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in Bank Of Montreal by 1.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock valued at $102,000 after acquiring an additional 15 shares in the last quarter. Thompson Investment Management Inc. increased its holdings in Bank Of Montreal by 1.6% during the 2nd quarter. Thompson Investment Management Inc. now owns 5,767 shares of the bank’s stock valued at $424,000 after acquiring an additional 90 shares in the last quarter. Patten Group Inc. increased its holdings in Bank Of Montreal by 3.4% during the 1st quarter. Patten Group Inc. now owns 3,533 shares of the bank’s stock valued at $264,000 after acquiring an additional 115 shares in the last quarter. Finally, Nwam LLC increased its holdings in Bank Of Montreal by 2.2% during the 2nd quarter. Nwam LLC now owns 7,050 shares of the bank’s stock valued at $518,000 after acquiring an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 42.77% of the company’s stock.

Bank Of Montreal (NYSE:BMO) traded down 0.12% during midday trading on Friday, hitting $77.72. 118,949 shares of the company traded hands. The company has a market cap of $50.44 billion, a PE ratio of 11.62 and a beta of 1.04. The stock has a 50 day moving average price of $76.28 and a 200-day moving average price of $73.26. Bank Of Montreal has a 12-month low of $62.32 and a 12-month high of $78.86.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 29th. The bank reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). Bank Of Montreal had a return on equity of 14.36% and a net margin of 20.04%. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the firm posted $1.94 EPS. Bank Of Montreal’s quarterly revenue was down 3.1% on a year-over-year basis. Analysts expect that Bank Of Montreal will post $6.28 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Wednesday, November 1st will be issued a $0.717 dividend. This represents a $2.87 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Tuesday, October 31st. This is a boost from Bank Of Montreal’s previous quarterly dividend of $0.66. Bank Of Montreal’s dividend payout ratio is presently 46.91%.

BMO has been the subject of several recent research reports. BidaskClub downgraded shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Zacks Investment Research upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, July 18th. Macquarie initiated coverage on shares of Bank Of Montreal in a report on Tuesday. They set a “neutral” rating and a $81.00 target price for the company. Canaccord Genuity set a $102.00 price target on shares of Bank Of Montreal and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Finally, Scotiabank reaffirmed a “buy” rating and set a $101.00 price target on shares of Bank Of Montreal in a research note on Wednesday, August 30th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $95.40.

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About Bank Of Montreal

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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