Korea Investment CORP Raises Stake in Bank Of Montreal $BMO

Korea Investment CORP raised its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 12.2% during the second quarter, HoldingsChannel reports. The firm owned 515,064 shares of the bank’s stock after buying an additional 55,848 shares during the period. Korea Investment CORP’s holdings in Bank Of Montreal were worth $56,965,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Bank Of Montreal by 228.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock worth $26,000 after buying an additional 190 shares during the last quarter. Princeton Global Asset Management LLC lifted its position in Bank Of Montreal by 40.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock worth $39,000 after acquiring an additional 100 shares during the period. Harbor Asset Planning Inc. purchased a new position in shares of Bank Of Montreal in the 2nd quarter valued at approximately $39,000. Bayforest Capital Ltd purchased a new position in shares of Bank Of Montreal in the 1st quarter valued at approximately $34,000. Finally, Vision Financial Markets LLC increased its holdings in shares of Bank Of Montreal by 100.0% in the second quarter. Vision Financial Markets LLC now owns 400 shares of the bank’s stock valued at $44,000 after purchasing an additional 200 shares during the period. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Trading Up 1.3%

Shares of Bank Of Montreal stock opened at $125.38 on Friday. The company has a 50-day moving average of $126.02 and a two-hundred day moving average of $117.28. Bank Of Montreal has a 12-month low of $85.40 and a 12-month high of $131.36. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The stock has a market cap of $89.22 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.21. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The business had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $8.84 billion. During the same quarter in the prior year, the firm posted $2.64 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. On average, research analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Analysts Set New Price Targets

BMO has been the subject of several recent research reports. CIBC raised Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, September 5th. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank Of Montreal in a research note on Wednesday, October 8th. Raymond James Financial initiated coverage on shares of Bank Of Montreal in a report on Monday. They set a “market perform” rating for the company. Finally, UBS Group reaffirmed a “neutral” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Bank Of Montreal has an average rating of “Moderate Buy” and an average price target of $163.00.

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.