Great Valley Advisor Group Inc. Acquires 252 Shares of Bank of Montreal (NYSE:BMO)

Great Valley Advisor Group Inc. raised its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,210 shares of the bank’s stock after buying an additional 252 shares during the period. Great Valley Advisor Group Inc.’s holdings in Bank of Montreal were worth $560,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Cetera Investment Advisers lifted its position in Bank of Montreal by 454.8% in the 1st quarter. Cetera Investment Advisers now owns 17,171 shares of the bank’s stock valued at $1,677,000 after acquiring an additional 14,076 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of Bank of Montreal by 171.3% in the first quarter. Cetera Advisors LLC now owns 6,261 shares of the bank’s stock valued at $612,000 after purchasing an additional 3,953 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Bank of Montreal during the first quarter valued at approximately $105,000. EverSource Wealth Advisors LLC grew 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 buying an additional 160 shares in the last quarter. Finally, Rempart Asset Management Inc. raised its position in Bank of Montreal by 0.5% in the 2nd quarter. Rempart Asset Management Inc. now owns 223,993 shares of the bank’s stock valued at $18,789,000 after buying an additional 1,100 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Bank of Montreal Trading Down 1.2 %

Shares of BMO stock opened at $94.40 on Wednesday. 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 firm has a market cap of $68.87 billion, a P/E ratio of 14.87, a PEG ratio of 2.57 and a beta of 1.10. The company has a 50 day moving average of $92.18 and a 200-day moving average of $88.24. 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 earnings results 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 during the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the prior year, the business earned $2.08 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Bank of Montreal will post 7.4 earnings per share for the current year.

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.