Bank of Montreal (NYSE:BMO) Shares Bought by Northwest & Ethical Investments L.P.

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

A number of other hedge funds also recently bought and sold shares of BMO. Cetera Investment Advisers raised its position in shares of Bank of Montreal by 454.8% during the 1st quarter. Cetera Investment Advisers now owns 17,171 shares of the bank’s stock worth $1,677,000 after acquiring an additional 14,076 shares in the last quarter. Cetera Advisors LLC increased its position in 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 buying an additional 3,953 shares during the period. Pathway Financial Advisers LLC acquired a new position in Bank of Montreal during the first quarter worth approximately $105,000. EverSource Wealth Advisors LLC increased 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 buying an additional 160 shares during the period. Finally, Rempart Asset Management Inc. increased its position in Bank of Montreal by 0.5% during the second quarter. Rempart Asset Management Inc. now owns 223,993 shares of the bank’s stock worth $18,789,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Trading Up 0.6 %

Shares of BMO stock opened at $94.96 on Friday. The business’s 50 day moving average is $92.47 and its two-hundred day moving average is $88.34. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $100.12. The company has a market capitalization of $69.28 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 2.60 and a beta of 1.10. 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:BMO) (TSE:BMO) last posted 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 analysts’ expectations of $8.25 billion. During the same quarter last year, the firm earned $2.08 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts forecast that Bank of Montreal will post 7.37 EPS for the current year.

Analyst Upgrades and Downgrades

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

Bank of Montreal 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.