Rench Wealth Management buys $2,718,176 stake in Bank of Montreal (USA) (BMO)

Bank of Montreal (USA) (BMO) : Rench Wealth Management scooped up 409 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 Nov 14, 2016. The investment management firm now holds a total of 42,518 shares of Bank of Montreal (USA) which is valued at $2,718,176.Bank of Montreal (USA) makes up approximately 2.29% of Rench Wealth Management’s portfolio.

Other Hedge Funds, Including , Moors Cabot boosted its stake in BMO in the latest quarter, The investment management firm added 407 additional shares and now holds a total of 12,655 shares of Bank of Montreal (USA) which is valued at $803,972. Bank of Montreal (USA) makes up approx 0.14% of Moors Cabot’s portfolio.National Planning Corp boosted its stake in BMO in the latest quarter, The investment management firm added 1,082 additional shares and now holds a total of 5,162 shares of Bank of Montreal (USA) which is valued at $329,852. Bank of Montreal (USA) makes up approx 0.03% of National Planning Corp’s portfolio. Ngam Advisors added BMO to its portfolio by purchasing 10,242 company shares during the most recent quarter which is valued at $640,330. Bank of Montreal (USA) makes up approx 0.01% of Ngam Advisors’s portfolio.Nationwide Fund Advisors boosted its stake in BMO in the latest quarter, The investment management firm added 20,070 additional shares and now holds a total of 99,858 shares of Bank of Montreal (USA) which is valued at $6,484,779. Bank of Montreal (USA) makes up approx 0.03% of Nationwide Fund Advisors’s portfolio.

Bank of Montreal (USA) opened for trading at $64.78 and hit $65.055 on the upside on Monday, eventually ending the session at $65.01, with a gain of 0.23% or 0.15 points. The heightened volatility saw the trading volume jump to 5,19,913 shares. Company has a market cap of $41,931 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). Bank of Montreal (USA) was Resumed by BofA/Merrill to “Neutral” on Nov 1, 2016. Bank of Montreal (USA) was Downgraded by Credit Suisse to ” Underperform” on Oct 4, 2016. 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 (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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