Healthcare of Ontario Pension Plan Trust Fund Grows Position in Bank of Montreal (NYSE:BMO)

Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 261.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,249,552 shares of the bank’s stock after buying an additional 3,074,389 shares during the quarter. Bank of Montreal comprises about 0.9% of Healthcare of Ontario Pension Plan Trust Fund’s investment portfolio, making the stock its 18th biggest holding. Healthcare of Ontario Pension Plan Trust Fund owned about 0.58% of Bank of Montreal worth $383,449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. D.A. Davidson & CO. raised its stake in Bank of Montreal by 1.3% during the third quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank’s stock valued at $776,000 after buying an additional 113 shares during the last quarter. Signaturefd LLC raised its stake in shares of Bank of Montreal by 1.5% in the second quarter. Signaturefd LLC now owns 8,581 shares of the bank’s stock worth $720,000 after purchasing an additional 123 shares during the last quarter. Boltwood Capital Management raised its stake in shares of Bank of Montreal by 3.1% in the third quarter. Boltwood Capital Management now owns 4,125 shares of the bank’s stock worth $372,000 after purchasing an additional 125 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Bank of Montreal by 4.4% in the second quarter. Sequoia Financial Advisors LLC now owns 3,580 shares of the bank’s stock worth $300,000 after purchasing an additional 151 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Bank of Montreal by 34.6% in the first quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock worth $56,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Performance

Shares of BMO opened at $94.40 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a one year low of $76.98 and a one year high of $100.12. The firm has a market capitalization of $68.87 billion, a P/E ratio of 14.87, a PEG ratio of 2.60 and a beta of 1.10. The business has a fifty day moving average of $92.18 and a 200 day moving average of $88.24.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.12). Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the previous year, the firm earned $2.08 EPS. The business’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Bank of Montreal will post 7.37 EPS for the current year.

Wall Street Analyst Weigh In

BMO has been the subject of several recent analyst reports. Barclays decreased their price target on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Royal Bank of Canada cut Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. Bank of America cut Bank of Montreal from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $134.00 to $117.00 in a research note on Wednesday, August 28th. TD Securities cut Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, Scotiabank cut Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $123.00 to $112.00 in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Bank of Montreal has a consensus rating of “Hold” and a consensus price target of $119.75.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.