Financial Counselors Inc. Cuts Stock Holdings in Bank of Montreal (NYSE:BMO)

Financial Counselors Inc. lessened its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,915 shares of the bank’s stock after selling 250 shares during the quarter. Financial Counselors Inc.’s holdings in Bank of Montreal were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Bank of Montreal by 2.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 272,191 shares of the bank’s stock worth $24,589,000 after acquiring an additional 7,759 shares during the period. FORA Capital LLC grew its stake in shares of Bank of Montreal by 157.1% during the 3rd quarter. FORA Capital LLC now owns 17,359 shares of the bank’s stock worth $1,566,000 after purchasing an additional 10,606 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Bank of Montreal by 261.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,249,552 shares of the bank’s stock worth $383,449,000 after purchasing an additional 3,074,389 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Bank of Montreal by 47.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,057 shares of the bank’s stock valued at $366,000 after purchasing an additional 1,314 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in shares of Bank of Montreal by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank’s stock valued at $776,000 after purchasing an additional 113 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank of Montreal Trading Up 0.3 %

Shares of BMO stock opened at $95.25 on Friday. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $100.12. The company has a market capitalization of $69.49 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 2.58 and a beta of 1.10. The firm has a 50-day moving average price of $92.57 and a 200 day moving average price of $88.30. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Barclays lowered their target price on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. TD Securities downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Scotiabank downgraded Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $123.00 to $112.00 in a research report on Wednesday, August 28th. Jefferies Financial Group lowered Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Finally, StockNews.com downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.75.

About Bank of Montreal

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.