Fmr LLC Has $455.40 Million Position in Bank of Montreal (NYSE:BMO)

Fmr LLC lifted its position in Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO) by 14.2% during the third quarter, HoldingsChannel.com reports. The fund owned 5,046,721 shares of the bank’s stock after purchasing an additional 625,797 shares during the period. Fmr LLC’s holdings in Bank of Montreal were worth $455,397,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Cetera Investment Advisers raised its holdings in Bank of Montreal by 454.8% in the first quarter. Cetera Investment Advisers now owns 17,171 shares of the bank’s stock worth $1,677,000 after purchasing an additional 14,076 shares during the period. Cetera Advisors LLC raised its stake in Bank of Montreal by 171.3% during the 1st quarter. Cetera Advisors LLC now owns 6,261 shares of the bank’s stock worth $612,000 after buying an additional 3,953 shares during the period. EverSource Wealth Advisors LLC lifted its holdings 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 acquiring an additional 160 shares in the last quarter. Rempart Asset Management Inc. grew its stake in Bank of Montreal by 0.5% in the second quarter. Rempart Asset Management Inc. now owns 223,993 shares of the bank’s stock valued at $18,789,000 after acquiring an additional 1,100 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Bank of Montreal in the second quarter worth about $81,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank of Montreal Stock Up 0.4 %

BMO opened at $95.30 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $69.53 billion, a P/E ratio of 15.01, a P/E/G ratio of 2.58 and a beta of 1.10. Bank of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $100.12. The stock has a fifty day moving average of $92.57 and a 200-day moving average of $88.34.

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last released its earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Bank of Montreal will post 7.37 EPS for the current year.

Wall Street Analyst Weigh In

BMO has been the subject of a number of research reports. TD Securities downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Jefferies Financial Group cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Scotiabank lowered shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $123.00 to $112.00 in a research report on Wednesday, August 28th. Barclays decreased their target price on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Finally, Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating and dropped 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of Montreal has a consensus rating of “Hold” and a consensus price target of $119.75.

View Our Latest Research Report on BMO

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.

See Also

Want to see what other hedge funds are holding BMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of Montreal (NYSE:BMOFree Report) (TSE:BMO).

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

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