Acadian Asset Management Lowers stake in Bank of Montreal (USA) (BMO)

Bank of Montreal (USA) (BMO) : Acadian Asset Management reduced its stake in Bank of Montreal (USA) by 11.62% during the most recent quarter end. The investment management company now holds a total of 5,478,168 shares of Bank of Montreal (USA) which is valued at $356,902,645 after selling 720,100 shares in Bank of Montreal (USA) , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Bank of Montreal (USA) makes up approximately 1.76% of Acadian Asset Management’s portfolio.

Other Hedge Funds, Including , Ferguson Wellman Capital Management Inc boosted its stake in BMO in the latest quarter, The investment management firm added 13,450 additional shares and now holds a total of 144,869 shares of Bank of Montreal (USA) which is valued at $9,503,406. Bank of Montreal (USA) makes up approx 0.39% of Ferguson Wellman Capital Management Inc’s portfolio.Washington Trust Bank boosted its stake in BMO in the latest quarter, The investment management firm added 90 additional shares and now holds a total of 930 shares of Bank of Montreal (USA) which is valued at $59,241. Bank of Montreal (USA) makes up approx 0.02% of Washington Trust Bank’s portfolio. New England Research Management sold out all of its stake in BMO during the most recent quarter. The investment firm sold 4,075 shares of BMO which is valued $257,377.

Bank of Montreal (USA) opened for trading at $65.06 and hit $65.38 on the upside on Wednesday, eventually ending the session at $65.15, with a gain of 0.11% or 0.07 points. The heightened volatility saw the trading volume jump to 4,33,859 shares. Company has a market cap of $41,957 M.

On the company’s financial health, Bank of Montreal (USA) reported $1.73 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on May 25, 2016. Analyst had a consensus of $1.75.Analysts expectations of $ 4995.69.During the same quarter in the previous year, the company posted $1.71 EPS.

Investors should note that on May 25, 2016, Bank of Montreal (USA) announced a cash dividend of $0.8600. The company’s management has announced Jul 28, 2016 as the ex-dividend date and fixed the record date on Aug 1, 2016. The payable date has been fixed on Aug 26, 2016.

Many Wall Street Analysts have commented on Bank of Montreal (USA). 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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