Advisors Asset Management Inc. Trims Stake in Bank of Montreal (NYSE:BMO)

Advisors Asset Management Inc. cut its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 11.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,293 shares of the bank’s stock after selling 1,496 shares during the period. Advisors Asset Management Inc.’s holdings in Bank of Montreal were worth $1,019,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Bank of Montreal in the 2nd quarter valued at approximately $34,000. Rothschild Investment LLC bought a new stake in shares of Bank of Montreal during the 2nd quarter valued at $40,000. GHP Investment Advisors Inc. grew its position 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 worth $50,000 after buying an additional 393 shares during the period. EverSource Wealth Advisors LLC lifted its position in Bank of Montreal by 34.6% during 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 during the period. Finally, Blue Trust Inc. lifted its position in Bank of Montreal by 207.8% during 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 during the period. 45.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

BMO has been the subject of a number of analyst reports. StockNews.com downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Barclays lowered their price objective on 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. Bank of America cut Bank of Montreal from a “buy” rating to a “neutral” rating and cut their target price for the stock from $134.00 to $117.00 in a research note on Wednesday, August 28th. Jefferies Financial Group lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, TD Securities lowered shares of 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 assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $119.75.

Bank of Montreal Price Performance

BMO opened at $95.57 on Tuesday. The company’s 50-day simple moving average is $92.05 and its two-hundred day simple moving average is $88.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $69.73 billion, a P/E ratio of 15.05, a P/E/G ratio of 2.57 and a beta of 1.10. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.12). The company had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 EPS. As a group, analysts predict that Bank of Montreal will post 7.4 EPS for the current year.

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.