Northwest & Ethical Investments L.P. Cuts Stock Position in Bank Of Montreal $BMO

Northwest & Ethical Investments L.P. lowered its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 21.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 159,042 shares of the bank’s stock after selling 43,597 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Bank Of Montreal were worth $17,586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in BMO. Allianz Asset Management GmbH increased its stake in Bank Of Montreal by 4.3% in the first quarter. Allianz Asset Management GmbH now owns 48,427 shares of the bank’s stock worth $4,624,000 after purchasing an additional 2,009 shares during the period. Avantax Advisory Services Inc. raised its position in Bank Of Montreal by 7.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,253 shares of the bank’s stock worth $693,000 after buying an additional 507 shares during the last quarter. Assetmark Inc. raised its position in Bank Of Montreal by 14.6% during the 1st quarter. Assetmark Inc. now owns 15,087 shares of the bank’s stock worth $1,441,000 after buying an additional 1,925 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Bank Of Montreal in the 1st quarter valued at $359,000. Finally, HB Wealth Management LLC raised its holdings in shares of Bank Of Montreal by 54.3% during the first quarter. HB Wealth Management LLC now owns 4,529 shares of the bank’s stock worth $433,000 after purchasing an additional 1,593 shares during the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Trading Up 1.3%

Shares of BMO stock opened at $123.85 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a twelve month low of $85.40 and a twelve month high of $131.36. The company has a market capitalization of $88.13 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04. The business’s 50 day moving average is $126.19 and its two-hundred day moving average is $117.17.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.21. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.Bank Of Montreal’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.64 earnings per share. Equities analysts forecast that Bank Of Montreal will post 7.71 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BMO shares. CIBC upgraded Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, September 5th. UBS Group reiterated a “neutral” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Royal Bank Of Canada cut Bank Of Montreal from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $168.00 to $163.00 in a report on Friday, October 3rd. Finally, Cibc World Mkts raised Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Bank Of Montreal currently has an average rating of “Moderate Buy” and an average price target of $163.00.

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.