Independent Advisor Alliance Purchases 4,384 Shares of Bank of Montreal (NYSE:BMO)

Independent Advisor Alliance increased its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 111.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,321 shares of the bank’s stock after purchasing an additional 4,384 shares during the period. Independent Advisor Alliance’s holdings in Bank of Montreal were worth $751,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BMO. Strategic Investment Solutions Inc. IL bought a new stake in shares of Bank of Montreal during the 2nd quarter valued at $34,000. Rothschild Investment LLC bought a new stake in Bank of Montreal in the 2nd quarter valued at $40,000. GHP Investment Advisors Inc. increased its holdings in Bank of Montreal by 244.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock valued at $50,000 after acquiring an additional 393 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Bank of Montreal by 34.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $56,000 after acquiring an additional 160 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Bank of Montreal by 207.8% in the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after acquiring an additional 451 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors.

Bank of Montreal Price Performance

BMO stock opened at $95.00 on Thursday. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $100.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $92.34 and a 200 day moving average price of $88.29. The stock has a market cap of $69.31 billion, a PE ratio of 14.96, a P/E/G ratio of 2.60 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 EPS for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The firm had revenue of $8.21 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the prior year, the firm posted $2.08 earnings per share. Bank of Montreal’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts anticipate that Bank of Montreal will post 7.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on BMO. Barclays reduced their price target on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and reduced their price target for the company from $134.00 to $117.00 in a report on Wednesday, August 28th. Jefferies Financial Group downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. StockNews.com downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Finally, TD Securities downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.