Acadian Asset Management buys $392,226,399 stake in Bank of Montreal (USA) (BMO)

Bank of Montreal (USA) (BMO) : Acadian Asset Management scooped up 378,910 additional shares in Bank of Montreal (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 14, 2016. The investment management firm now holds a total of 6,198,268 shares of Bank of Montreal (USA) which is valued at $392,226,399.Bank of Montreal (USA) makes up approximately 1.97% of Acadian Asset Management’s portfolio.

Bank of Montreal (USA) opened for trading at $62.38 and hit $63.57 on the upside on Monday, eventually ending the session at $63.5, with a gain of 0.35% or 0.22 points. The heightened volatility saw the trading volume jump to 4,83,924 shares. Company has a market cap of $40,831 M.

Other Hedge Funds, Including , Berkshire Asset Managementpa boosted its stake in BMO in the latest quarter, The investment management firm added 13,950 additional shares and now holds a total of 91,766 shares of Bank of Montreal (USA) which is valued at $5,806,952. Bank of Montreal (USA) makes up approx 0.89% of Berkshire Asset Managementpa’s portfolio.Naples Global Advisors reduced its stake in BMO by selling 450 shares or 2.48% in the most recent quarter. The Hedge Fund company now holds 17,692 shares of BMO which is valued at $1,119,550. Bank of Montreal (USA) makes up approx 0.47% of Naples Global Advisors’s portfolio. 1st Global Advisors added BMO to its portfolio by purchasing 5,648 company shares during the most recent quarter which is valued at $357,405. Bank of Montreal (USA) makes up approx 0.05% of 1st Global Advisors’s portfolio.Cardinal Capital Management reduced its stake in BMO by selling 4,140 shares or 0.47% in the most recent quarter. The Hedge Fund company now holds 872,161 shares of BMO which is valued at $53,201,821. Bank of Montreal (USA) makes up approx 6.06% of Cardinal Capital Management’s portfolio.

On the company’s financial health, Bank of Montreal (USA) reported $1.75 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 23, 2016. Analyst had a consensus of $1.72. The company had revenue of $5075.00 million for the quarter, compared to analysts expectations of $4917.36 million. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 EPS.

Many Wall Street Analysts have commented on Bank of Montreal (USA). Bank of Montreal (USA) was Downgraded by Credit Suisse to ” Neutral” on Mar 8, 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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