10,895 Shares in Bank of Montreal (BMO) Purchased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC acquired a new stake in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 10,895 shares of the bank’s stock, valued at approximately $142,000.

Several other hedge funds also recently bought and sold shares of BMO. Toronto Dominion Bank lifted its holdings in Bank of Montreal by 43.0% in the 2nd quarter. Toronto Dominion Bank now owns 13,516,956 shares of the bank’s stock worth $1,048,839,000 after purchasing an additional 4,067,728 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Bank of Montreal by 0.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 6,370,935 shares of the bank’s stock worth $494,015,000 after acquiring an additional 23,169 shares during the last quarter. Beutel Goodman & Co Ltd. increased its stake in Bank of Montreal by 5,646.1% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 6,276,187 shares of the bank’s stock worth $485,226,000 after acquiring an additional 6,166,961 shares during the last quarter. OMERS ADMINISTRATION Corp increased its stake in Bank of Montreal by 3.7% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 5,682,647 shares of the bank’s stock worth $438,991,000 after acquiring an additional 202,135 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Bank of Montreal by 6.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,968,848 shares of the bank’s stock worth $152,206,000 after acquiring an additional 122,223 shares during the last quarter. 43.89% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have issued reports on the company. Canaccord Genuity raised Bank of Montreal from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Zacks Investment Research downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Friday, November 9th. Barclays reissued a “hold” rating on shares of Bank of Montreal in a research report on Friday, November 16th. Finally, ValuEngine downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $104.67.

Bank of Montreal stock traded up $0.38 during mid-day trading on Monday, hitting $74.88. The company’s stock had a trading volume of 625,500 shares, compared to its average volume of 462,964. The company has a market capitalization of $47.70 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.24 and a beta of 1.11. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.14. Bank of Montreal has a one year low of $72.53 and a one year high of $84.71.

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Bank of Montreal Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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