Voloridge Investment Management LLC Cuts Position in Bank of Montreal (NYSE:BMO)

Voloridge Investment Management LLC lessened its position in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 23.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,624 shares of the bank’s stock after selling 8,233 shares during the quarter. Voloridge Investment Management LLC’s holdings in Bank of Montreal were worth $2,037,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BMO. ARS Investment Partners LLC bought a new position in shares of Bank of Montreal during the 2nd quarter valued at about $473,000. Bank of Nova Scotia Trust Co. boosted its stake in Bank of Montreal by 1.5% in the second quarter. Bank of Nova Scotia Trust Co. now owns 642,250 shares of the bank’s stock worth $48,458,000 after buying an additional 9,479 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in Bank of Montreal by 6.2% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 6,719 shares of the bank’s stock worth $494,000 after buying an additional 390 shares in the last quarter. Lakeview Capital Partners LLC grew its position in Bank of Montreal by 4.5% during the third quarter. Lakeview Capital Partners LLC now owns 3,135 shares of the bank’s stock valued at $231,000 after acquiring an additional 135 shares during the last quarter. Finally, Scotia Capital Inc. grew its position in Bank of Montreal by 1.7% during the second quarter. Scotia Capital Inc. now owns 2,162,495 shares of the bank’s stock valued at $162,968,000 after acquiring an additional 35,289 shares during the last quarter. Institutional investors and hedge funds own 42.09% of the company’s stock.

Shares of BMO stock opened at $74.32 on Wednesday. The business has a 50-day moving average of $75.42 and a 200 day moving average of $74.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.02. Bank of Montreal has a 1-year low of $62.79 and a 1-year high of $79.35. The stock has a market capitalization of $49.18 billion, a PE ratio of 10.63, a P/E/G ratio of 1.94 and a beta of 1.19.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, December 3rd. The bank reported $2.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.82 by $0.61. Bank of Montreal had a return on equity of 14.14% and a net margin of 16.48%. The business had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $5.86 billion. During the same period in the previous year, the firm earned $2.32 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts anticipate that Bank of Montreal will post 7.13 EPS for the current year.

A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group upgraded shares of Bank of Montreal from an “underperform” rating to a “neutral” rating and set a $93.00 price objective for the company in a report on Friday, September 6th. Scotiabank reaffirmed a “hold” rating on shares of Bank of Montreal in a report on Tuesday, August 20th. ValuEngine raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $96.00.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.

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

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