Allianz Asset Management GmbH trimmed its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 31.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 834,194 shares of the bank’s stock after selling 373,976 shares during the period. Allianz Asset Management GmbH owned about 0.13% of Bank of Montreal worth $62,987,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Aperio Group LLC grew its holdings in shares of Bank of Montreal by 2.3% in the 3rd quarter. Aperio Group LLC now owns 403,344 shares of the bank’s stock worth $30,537,000 after acquiring an additional 9,170 shares during the period. USS Investment Management Ltd acquired a new stake in shares of Bank of Montreal in the 2nd quarter worth approximately $6,314,000. Greystone Managed Investments Inc. grew its holdings in shares of Bank of Montreal by 16.9% in the 3rd quarter. Greystone Managed Investments Inc. now owns 621,311 shares of the bank’s stock worth $46,912,000 after acquiring an additional 90,023 shares during the period. Blair William & Co. IL grew its holdings in shares of Bank of Montreal by 6.5% in the 2nd quarter. Blair William & Co. IL now owns 16,738 shares of the bank’s stock worth $1,229,000 after acquiring an additional 1,023 shares during the period. Finally, Intact Investment Management Inc. grew its holdings in shares of Bank of Montreal by 106.6% in the 2nd quarter. Intact Investment Management Inc. now owns 575,323 shares of the bank’s stock worth $54,782,000 after acquiring an additional 296,840 shares during the period. 42.78% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on BMO shares. BidaskClub cut Bank of Montreal from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Canaccord Genuity set a $102.00 price target on Bank of Montreal and gave the stock a “hold” rating in a report on Tuesday, August 29th. Scotiabank restated a “buy” rating and issued a $101.00 price target on shares of Bank of Montreal in a report on Wednesday, August 30th. Macquarie started coverage on Bank of Montreal in a report on Tuesday, October 24th. They issued a “neutral” rating and a $81.00 price target on the stock. Finally, Zacks Investment Research cut Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $97.60.

Shares of Bank of Montreal (NYSE BMO) opened at $78.05 on Wednesday. The company has a market capitalization of $50,803.72, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 2.19 and a beta of 1.06. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13. Bank of Montreal has a fifty-two week low of $66.75 and a fifty-two week high of $79.02.

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Bank of Montreal Company Profile

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

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

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