Financial Counselors Inc. Has $920,000 Position in Bank of Montreal (BMO)

Financial Counselors Inc. trimmed its stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 6.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,148 shares of the bank’s stock after selling 862 shares during the quarter. Financial Counselors Inc.’s holdings in Bank of Montreal were worth $920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Bank of Montreal by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 14,592,498 shares of the bank’s stock worth $1,071,673,000 after purchasing an additional 748,173 shares in the last quarter. CIBC Asset Management Inc grew its stake in Bank of Montreal by 32.5% during the 3rd quarter. CIBC Asset Management Inc now owns 7,059,573 shares of the bank’s stock worth $532,857,000 after purchasing an additional 1,731,928 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Bank of Montreal by 6.8% during the 3rd quarter. Great West Life Assurance Co. Can now owns 6,098,215 shares of the bank’s stock worth $460,556,000 after purchasing an additional 390,688 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Bank of Montreal by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,800,439 shares of the bank’s stock worth $287,731,000 after purchasing an additional 41,934 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Bank of Montreal by 13.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,134,272 shares of the bank’s stock worth $229,733,000 after purchasing an additional 374,747 shares in the last quarter. 42.78% of the stock is owned by hedge funds and other institutional investors.

BMO has been the subject of several analyst reports. Scotiabank reissued a “buy” rating and set a $101.00 target price on shares of Bank of Montreal in a research note on Wednesday, August 30th. Zacks Investment Research cut Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. BidaskClub raised Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Canaccord Genuity set a $102.00 target price on Bank of Montreal and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Finally, Macquarie assumed coverage on Bank of Montreal in a research note on Tuesday, October 24th. They set a “neutral” rating and a $81.00 target price for the company. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Bank of Montreal presently has a consensus rating of “Hold” and an average target price of $97.60.

Bank of Montreal (BMO) opened at $78.05 on Wednesday. The stock has a market capitalization of $50,803.72, a PE ratio of 12.44, a PEG ratio of 2.19 and a beta of 1.06. Bank of Montreal has a 1 year low of $66.75 and a 1 year high of $79.02. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13.

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Bank of Montreal Profile

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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