Claret Asset Management Corp Boosts Stake in Bank Of Montreal $BMO

Claret Asset Management Corp boosted its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 88,493 shares of the bank’s stock after buying an additional 1,071 shares during the quarter. Bank Of Montreal accounts for about 1.3% of Claret Asset Management Corp’s holdings, making the stock its 20th largest position. Claret Asset Management Corp’s holdings in Bank Of Montreal were worth $9,805,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BMO. Cary Street Partners Investment Advisory LLC raised its stake in shares of Bank Of Montreal by 228.9% in 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 period. Bayforest Capital Ltd purchased a new stake in Bank Of Montreal in the 1st quarter worth approximately $34,000. Truvestments Capital LLC bought a new stake in Bank Of Montreal during the 1st quarter worth approximately $39,000. Harbor Asset Planning Inc. bought a new stake in Bank Of Montreal during the 2nd quarter worth approximately $39,000. Finally, Princeton Global Asset Management LLC lifted its holdings in Bank Of Montreal by 40.0% during the second quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 45.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BMO. Raymond James Financial began coverage on shares of Bank Of Montreal in a research note on Monday, November 24th. They issued a “market perform” rating for the company. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Royal Bank Of Canada cut Bank Of Montreal from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $168.00 to $163.00 in a report on Friday, October 3rd. Wall Street Zen downgraded Bank Of Montreal from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Finally, Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. One 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $163.00.

Bank Of Montreal Stock Up 0.9%

Shares of BMO stock opened at $126.54 on Monday. The company’s fifty day simple moving average is $125.94 and its two-hundred day simple moving average is $117.67. Bank Of Montreal has a 52 week low of $85.40 and a 52 week high of $131.36. The stock has a market cap of $90.05 billion, a P/E ratio of 15.49, a PEG ratio of 1.28 and a beta of 1.04. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal Profile

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.