BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $285.98 Million Holdings in Bank of Montreal (NYSE:BMO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 34.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,169,608 shares of the bank’s stock after selling 1,682,021 shares during the quarter. Bank of Montreal makes up 1.7% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s portfolio, making the stock its 12th biggest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Bank of Montreal were worth $285,979,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Bank of Montreal by 261.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,249,552 shares of the bank’s stock valued at $383,449,000 after purchasing an additional 3,074,389 shares during the period. JARISLOWSKY FRASER Ltd raised its stake in shares of Bank of Montreal by 36.9% in the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 5,239,662 shares of the bank’s stock valued at $439,705,000 after purchasing an additional 1,412,532 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Bank of Montreal in the 2nd quarter valued at about $80,915,000. National Bank of Canada FI raised its stake in shares of Bank of Montreal by 4.9% in the 2nd quarter. National Bank of Canada FI now owns 14,761,836 shares of the bank’s stock valued at $1,231,564,000 after purchasing an additional 692,049 shares during the period. Finally, FMR LLC raised its stake in shares of Bank of Montreal by 14.2% in the 3rd quarter. FMR LLC now owns 5,046,721 shares of the bank’s stock valued at $455,397,000 after purchasing an additional 625,797 shares during the period. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Trading Up 0.4 %

Shares of NYSE:BMO opened at $95.30 on Friday. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $100.12. The stock has a market cap of $69.53 billion, a PE ratio of 15.01, a P/E/G ratio of 2.58 and a beta of 1.10. The business has a 50 day moving average of $92.57 and a 200-day moving average of $88.34. 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 (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The firm had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The company’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts forecast that Bank of Montreal will post 7.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BMO. StockNews.com downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Barclays dropped their price target on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. Jefferies Financial Group downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Bank of America cut Bank of Montreal from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $134.00 to $117.00 in a report on Wednesday, August 28th. Finally, Scotiabank cut Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $123.00 to $112.00 in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $119.75.

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.