Advisors Asset Management Inc. Sells 1,496 Shares of Bank of Montreal (NYSE:BMO)

Advisors Asset Management Inc. trimmed its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 11.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,293 shares of the bank’s stock after selling 1,496 shares during the quarter. Advisors Asset Management Inc.’s holdings in Bank of Montreal were worth $1,019,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. West Family Investments Inc. bought a new stake in shares of Bank of Montreal during the 3rd quarter valued at $214,000. Vertex Planning Partners LLC purchased a new stake in Bank of Montreal in the third quarter worth about $4,053,000. Caprock Group LLC raised its stake in shares of Bank of Montreal by 8.7% in the third quarter. Caprock Group LLC now owns 3,046 shares of the bank’s stock worth $275,000 after buying an additional 244 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Bank of Montreal by 6.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,667 shares of the bank’s stock valued at $331,000 after buying an additional 209 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of Bank of Montreal by 7.6% during the 3rd quarter. Natixis Advisors LLC now owns 30,990 shares of the bank’s stock valued at $2,795,000 after acquiring an additional 2,177 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank of Montreal Stock Up 0.7 %

Shares of BMO opened at $95.57 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $69.73 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $100.12. The business’s 50 day simple moving average is $92.05 and its 200-day simple moving average is $88.24.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly 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 net margin of 8.50% and a return on equity of 11.23%. The business had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the previous year, the company earned $2.08 EPS. Bank of Montreal’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts expect that Bank of Montreal will post 7.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BMO. Royal Bank of Canada downgraded shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a report on Tuesday, July 30th. Barclays dropped 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 report on Wednesday, August 28th. Bank of America downgraded Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $134.00 to $117.00 in a research report on Wednesday, August 28th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Finally, Jefferies Financial Group cut Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Bank of Montreal has a consensus rating of “Hold” and an average target price of $119.75.

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.