Forum Financial Management LP Grows Stock Holdings in Bank of Montreal (NYSE:BMO)

Forum Financial Management LP grew its position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 45.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,958 shares of the bank's stock after buying an additional 2,481 shares during the quarter. Forum Financial Management LP's holdings in Bank of Montreal were worth $772,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in BMO. Norges Bank purchased a new stake in shares of Bank of Montreal during the fourth quarter valued at approximately $1,014,633,000. The Manufacturers Life Insurance Company grew its holdings in shares of Bank of Montreal by 42.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank's stock valued at $664,742,000 after buying an additional 2,044,862 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Bank of Montreal by 1,527.7% during the fourth quarter. Federated Hermes Inc. now owns 1,160,494 shares of the bank's stock valued at $112,626,000 after buying an additional 1,089,199 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Bank of Montreal by 8.6% during the fourth quarter. Toronto Dominion Bank now owns 12,833,065 shares of the bank's stock valued at $1,244,284,000 after buying an additional 1,020,712 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Bank of Montreal by 29.4% during the fourth quarter. Geode Capital Management LLC now owns 4,297,626 shares of the bank's stock valued at $422,450,000 after buying an additional 975,777 shares during the last quarter. Hedge funds and other institutional investors own 45.82% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BMO shares. Wall Street Zen upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. CIBC restated a "neutral" rating on shares of Bank of Montreal in a report on Tuesday, May 20th. Royal Bank of Canada raised their target price on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Scotiabank assumed coverage on shares of Bank of Montreal in a report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Finally, Cibc World Mkts cut shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $128.40.

Bank of Montreal Stock Performance

Shares of Bank of Montreal stock traded up $1.51 on Wednesday, hitting $106.32. 1,071,629 shares of the company's stock were exchanged, compared to its average volume of 849,203. The company has a 50-day simple moving average of $96.61 and a 200-day simple moving average of $97.58. The stock has a market capitalization of $76.98 billion, a PE ratio of 15.23, a PEG ratio of 1.43 and a beta of 1.03. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $108.33. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, topping the consensus estimate of $1.68 by $1.36. The business had revenue of $9.27 billion for the quarter, compared to analysts' expectations of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The company's revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.56 EPS. As a group, equities analysts anticipate that Bank of Montreal will post 7.71 EPS for the current year.

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.