Northwest & Ethical Investments L.P. Boosts Stake in Bank of Montreal (NYSE:BMO)

Northwest & Ethical Investments L.P. lifted its holdings in Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 5.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,865 shares of the bank’s stock after buying an additional 5,742 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Bank of Montreal were worth $10,456,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. boosted its position 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 worth $776,000 after purchasing an additional 113 shares in the last quarter. Signaturefd LLC boosted its position in Bank of Montreal by 1.5% during the second quarter. Signaturefd LLC now owns 8,581 shares of the bank’s stock worth $720,000 after purchasing an additional 123 shares in the last quarter. Boltwood Capital Management boosted its position in Bank of Montreal by 3.1% during 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 in the last quarter. Sequoia Financial Advisors LLC boosted its position in Bank of Montreal by 4.4% during 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 in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Bank of Montreal by 34.6% during 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 in the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Montreal Stock Performance

Bank of Montreal stock opened at $94.96 on Friday. The firm has a market capitalization of $69.28 billion, a P/E ratio of 14.95, a PEG ratio of 2.60 and a beta of 1.10. The stock has a fifty day moving average price of $92.47 and a 200 day moving average price of $88.34. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $100.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13.

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last released its earnings results 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 net margin of 8.50% and a return on equity of 11.23%. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $8.25 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts anticipate that Bank of Montreal will post 7.37 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BMO shares. Barclays cut their price target on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Bank of America cut Bank of Montreal from a “buy” rating to a “neutral” rating and cut their price target for the stock from $134.00 to $117.00 in a report on Wednesday, August 28th. Jefferies Financial Group cut Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Finally, TD Securities cut Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $119.75.

Check Out Our Latest Stock Report on Bank of Montreal

About Bank of Montreal

(Free Report)

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.

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

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