Public Sector Pension Investment Board Reduces Holdings in Bank of Montreal (NYSE:BMO)

Public Sector Pension Investment Board trimmed its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,431 shares of the bank’s stock after selling 216 shares during the quarter. Public Sector Pension Investment Board’s holdings in Bank of Montreal were worth $8,621,000 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 BMO. Strategic Investment Solutions Inc. IL bought a new stake in shares of Bank of Montreal during the 2nd quarter valued at $34,000. Rothschild Investment LLC purchased a new stake in Bank of Montreal in the second quarter worth about $40,000. GHP Investment Advisors Inc. increased its position in Bank of Montreal by 244.1% in the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after buying an additional 393 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Bank of Montreal by 34.6% in 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 period. Finally, Blue Trust Inc. lifted 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 valued at $56,000 after buying an additional 451 shares in the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank of Montreal Stock Up 0.4 %

Shares of BMO stock opened at $95.30 on Friday. The stock has a market cap of $69.53 billion, a P/E ratio of 15.01, a PEG ratio of 2.58 and a beta of 1.10. The company’s fifty day simple moving average is $92.57 and its two-hundred day simple moving average is $88.34. 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 52 week low of $76.98 and a 52 week high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 27th. The bank reported $2.64 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 quarter in the prior year, the firm posted $2.08 earnings per share. Bank of Montreal’s quarterly revenue was up .2% on a year-over-year basis. Analysts predict that Bank of Montreal will post 7.37 EPS for the current fiscal year.

Analysts Set New Price Targets

BMO has been the subject of several analyst reports. StockNews.com lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Scotiabank downgraded shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $123.00 to $112.00 in a research report on Wednesday, August 28th. Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $134.00 to $117.00 in a report on Wednesday, August 28th. Jefferies Financial Group cut Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Finally, Barclays dropped 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bank of Montreal has an average rating of “Hold” and an average price target 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.