Martin Currie Ltd Lowers stake in Bank of Montreal (USA) (BMO)

Bank of Montreal (USA) (BMO) : Martin Currie Ltd reduced its stake in Bank of Montreal (USA) by 20.42% during the most recent quarter end. The investment management company now holds a total of 203,400 shares of Bank of Montreal (USA) which is valued at $13,145,742 after selling 52,200 shares in Bank of Montreal (USA) , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Bank of Montreal (USA) makes up approximately 1.22% of Martin Currie Ltd’s portfolio.

Other Hedge Funds, Including , Price T Rowe Associates Inc Md boosted its stake in BMO in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 18,200 shares of Bank of Montreal (USA) which is valued at $1,176,266. Smith Moore added BMO to its portfolio by purchasing 4,143 company shares during the most recent quarter which is valued at $267,762. Bank of Montreal (USA) makes up approx 0.11% of Smith Moore’s portfolio.

Bank of Montreal (USA) opened for trading at $66.38 and hit $66.67 on the upside on Thursday, eventually ending the session at $66.52, with a gain of 0.33% or 0.22 points. The heightened volatility saw the trading volume jump to 5,82,839 shares. Company has a market cap of $42,905 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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