FORA Capital LLC Purchases 10,606 Shares of Bank of Montreal (NYSE:BMO)

FORA Capital LLC grew its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 157.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,359 shares of the bank’s stock after acquiring an additional 10,606 shares during the period. FORA Capital LLC’s holdings in Bank of Montreal were worth $1,566,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Bank of Montreal in the 2nd quarter valued at about $34,000. Rothschild Investment LLC bought a new position in shares of Bank of Montreal in the 2nd quarter valued at about $40,000. GHP Investment Advisors Inc. grew its holdings in shares of Bank of Montreal by 244.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after acquiring an additional 393 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Bank of Montreal by 34.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $56,000 after acquiring an additional 160 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Bank of Montreal by 207.8% in the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after acquiring an additional 451 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Trading Up 0.6 %

Shares of BMO stock opened at $95.00 on Thursday. The firm has a 50 day moving average price of $92.34 and a two-hundred day moving average price of $88.29. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $69.31 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.60 and a beta of 1.10. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly 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 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 firm posted $2.08 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. As a group, analysts predict that Bank of Montreal will post 7.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. TD Securities cut Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Scotiabank cut Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $123.00 to $112.00 in a report on Wednesday, August 28th. Barclays reduced 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. Finally, Jefferies Financial Group 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 issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $119.75.

About Bank of Montreal

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.