Citigroup Inc. Has $14.92 Million Stake in Bank of Montreal (NYSE:BMO)

Citigroup Inc. lifted its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 7.0% during the third quarter, Holdings Channel.com reports. The firm owned 165,148 shares of the bank’s stock after buying an additional 10,792 shares during the period. Citigroup Inc.’s holdings in Bank of Montreal were worth $14,919,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BMO. Cetera Investment Advisers lifted its position in shares of Bank of Montreal by 454.8% during the first quarter. Cetera Investment Advisers now owns 17,171 shares of the bank’s stock worth $1,677,000 after purchasing an additional 14,076 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of 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 last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Bank of Montreal during the first quarter worth approximately $105,000. EverSource Wealth Advisors LLC raised its stake in shares of 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 last quarter. Finally, Rempart Asset Management Inc. raised its stake in shares of 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 last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BMO has been the subject of a number of recent research reports. Jefferies Financial Group downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their target price for the company from $134.00 to $117.00 in a research note on Wednesday, August 28th. Barclays lowered their target price 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. Scotiabank downgraded shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $123.00 to $112.00 in a research note on Wednesday, August 28th. Finally, StockNews.com downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. One investment 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 a consensus price target of $119.75.

Bank of Montreal Stock Up 0.6 %

Shares of BMO stock opened at $95.00 on Thursday. The firm has a fifty day moving average of $92.34 and a 200-day moving average of $88.29. 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 has a 12-month low of $76.98 and a 12-month high of $100.12. The company has a market capitalization of $69.31 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 2.60 and a beta of 1.10.

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 the consensus estimate 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 company had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the prior year, the company earned $2.08 EPS. The firm’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts predict that Bank of Montreal will post 7.37 earnings per share for the current fiscal 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.