Fmr LLC Acquires 625,797 Shares of Bank of Montreal (NYSE:BMO)

Fmr LLC boosted its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 14.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,046,721 shares of the bank’s stock after purchasing an additional 625,797 shares during the period. Fmr LLC owned about 0.69% of Bank of Montreal worth $455,397,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Bank of Montreal during the 2nd quarter worth approximately $34,000. Rothschild Investment LLC bought a new position in shares of Bank of Montreal during the second quarter valued at $40,000. GHP Investment Advisors Inc. boosted its stake 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 valued at $50,000 after purchasing an additional 393 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Bank of Montreal by 34.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock worth $56,000 after purchasing an additional 160 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock worth $56,000 after purchasing an additional 451 shares in the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank of Montreal Price Performance

Shares of BMO stock opened at $95.30 on Friday. The firm has a market cap of $69.53 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 2.58 and a beta of 1.10. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $100.12. 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 stock has a 50-day moving average price of $92.57 and a 200 day moving average price of $88.34.

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 return on equity of 11.23% and a net margin of 8.50%. The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same period last year, the firm earned $2.08 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Research analysts expect that Bank of Montreal will post 7.37 EPS for the current year.

Analyst Upgrades and Downgrades

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