Bank of Montreal (NYSE:BMO) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 2.9% during the 3rd quarter, Holdings Channel reports. The fund owned 272,191 shares of the bank’s stock after purchasing an additional 7,759 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Bank of Montreal were worth $24,589,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BMO. Cetera Investment Advisers raised its position in Bank of Montreal by 454.8% in the 1st quarter. Cetera Investment Advisers now owns 17,171 shares of the bank’s stock valued at $1,677,000 after purchasing an additional 14,076 shares in the last quarter. Cetera Advisors LLC grew its position in shares of Bank of Montreal by 171.3% during the first quarter. Cetera Advisors LLC now owns 6,261 shares of the bank’s stock worth $612,000 after buying an additional 3,953 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Bank of Montreal by 34.6% in the first quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $56,000 after acquiring an additional 160 shares in the last quarter. Rempart Asset Management Inc. raised its holdings in Bank of Montreal by 0.5% in the second quarter. Rempart Asset Management Inc. now owns 223,993 shares of the bank’s stock valued at $18,789,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Bank of Montreal in the second quarter worth approximately $81,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Montreal Stock Performance

Shares of BMO stock opened at $95.30 on Friday. The stock’s 50-day moving average is $92.57 and its two-hundred day moving average is $88.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $100.12. 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 (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). The firm had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 EPS. Analysts predict that Bank of Montreal will post 7.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BMO shares. Jefferies Financial Group downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Scotiabank lowered Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $123.00 to $112.00 in a report on Wednesday, August 28th. TD Securities downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Finally, Barclays cut their target price on 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.