Investment Management Corp of Ontario Has $11.33 Million Stock Holdings in Bank of Montreal (NYSE:BMO)

Investment Management Corp of Ontario decreased its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 125,590 shares of the bank’s stock after selling 1,597 shares during the period. Investment Management Corp of Ontario’s holdings in Bank of Montreal were worth $11,328,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers grew its position in Bank of Montreal by 454.8% during the 1st quarter. Cetera Investment Advisers now owns 17,171 shares of the bank’s stock valued at $1,677,000 after purchasing an additional 14,076 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of Bank of Montreal by 171.3% during the first quarter. Cetera Advisors LLC now owns 6,261 shares of the bank’s stock worth $612,000 after purchasing an additional 3,953 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Bank of Montreal by 34.6% in the first quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $56,000 after acquiring an additional 160 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Bank of Montreal during the second quarter worth approximately $81,000. Finally, Olistico Wealth LLC purchased a new stake in Bank of Montreal in the 2nd quarter valued at $59,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on BMO. Scotiabank lowered shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $123.00 to $112.00 in a research note on Wednesday, August 28th. StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Jefferies Financial Group lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. TD Securities cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, Bank of America lowered shares of Bank of Montreal from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $134.00 to $117.00 in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $119.75.

Bank of Montreal Price Performance

NYSE BMO opened at $95.08 on Tuesday. The company has a 50-day moving average price of $92.57 and a 200-day moving average price of $88.25. The firm has a market capitalization of $69.37 billion, a P/E ratio of 14.97, a PEG ratio of 2.59 and a beta of 1.10. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $100.12. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13.

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.