Guardian Capital Lp Lowers stake in Bank of Montreal (USA) (BMO)

Bank of Montreal (USA) (BMO) : Guardian Capital Lp reduced its stake in Bank of Montreal (USA) by 0.83% during the most recent quarter end. The investment management company now holds a total of 5,292,399 shares of Bank of Montreal (USA) which is valued at $342,047,747 after selling 44,480 shares in Bank of Montreal (USA) , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Bank of Montreal (USA) makes up approximately 5.34% of Guardian Capital Lp’s portfolio.

Other Hedge Funds, Including , Counsel Portfolio Services added BMO to its portfolio by purchasing 91,200 company shares during the most recent quarter which is valued at $5,894,256. Bank of Montreal (USA) makes up approx 0.56% of Counsel Portfolio Services’s portfolio. Teachers Advisors Inc added BMO to its portfolio by purchasing 1,345 company shares during the most recent quarter which is valued at $86,927. Princeton Alpha Management Lp sold out all of its stake in BMO during the most recent quarter. The investment firm sold 5,019 shares of BMO which is valued $315,946. Mn Services Vermogensbeheer B.v. sold out all of its stake in BMO during the most recent quarter. The investment firm sold 16,033 shares of BMO which is valued $1,009,277.Hexavest reduced its stake in BMO by selling 2,560 shares or 17.28% in the most recent quarter. The Hedge Fund company now holds 12,259 shares of BMO which is valued at $804,190. Bank of Montreal (USA) makes up approx 0.01% of Hexavest’s portfolio.

Bank of Montreal (USA) opened for trading at $66.8 and hit $67.02 on the upside on Monday, eventually ending the session at $66.81, with a gain of 0.04% or 0.03 points. The heightened volatility saw the trading volume jump to 5,38,079 shares. Company has a market cap of $43,092 M.

On the company’s financial health, Bank of Montreal (USA) reported $1.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Aug 23, 2016. Analyst had a consensus of $1.83. The company had revenue of $5633.00 million for the quarter, compared to analysts expectations of $5072.88 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 EPS.

Many Wall Street Analysts have commented on Bank of Montreal (USA). Company shares were Reiterated by RBC Capital Mkts on Aug 24, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 88 from a previous price target of $84 .Bank of Montreal (USA) was Downgraded by TD Securities to ” Hold” on May 26, 2016.

Bank of Montreal (BMO) is a financial services company. The Bank provides a range of retail banking wealth management and investment banking products and services. It conducts its business through three operating groups: Personal and Commercial Banking Wealth Management and BMO Capital Markets. The Bank operates primarily in Canada and the United States. It also has operations in the United Kingdom Europe the Caribbean and Asia. It also serves customers through its wealth management businesses: BMO Nesbitt Burns BMO InvestorLine BMO Private Banking BMO Global Asset Management and BMO Insurance. BMO Capital Markets its investment and corporate banking and trading products division provides a suite of financial products and services to North American and international clients. In the United States BMO serves customers through BMO Harris Bank based in the United States Midwest with more than two million retail small business and commercial customers.

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