Acadian Asset Management LLC Has Lifted Its Bank Montreal Que (BMO) Holding by $65.04 Million

June 19, 2017 - By Nellie Frank

Acadian Asset Management Llc increased its stake in Bank Montreal Que (BMO) by 17.26% based on its latest 2016Q4 regulatory filing with the SEC. Acadian Asset Management Llc bought 903,268 shares as the company’s stock declined 10.55% while stock markets rallied. The institutional investor held 6.14 million shares of the commercial banks company at the end of 2016Q4, valued at $441.94M, up from 5.23 million at the end of the previous reported quarter. Acadian Asset Management Llc who had been investing in Bank Montreal Que for a number of months, seems to be bullish on the $46.12 billion market cap company. It closed at $70.38 lastly. It is down 10.44% since June 19, 2016 and is uptrending. It has underperformed by 6.26% the S&P500.

Acadian Asset Management Llc, which manages about $65.15 billion and $20.58B US Long portfolio, decreased its stake in Davita Inc (NYSE:DVA) by 164,229 shares to 1.46M shares, valued at $93.90 million in 2016Q4, according to the filing. It also reduced its holding in Henry Jack & Assoc Inc (NASDAQ:JKHY) by 242,570 shares in the quarter, leaving it with 328,024 shares, and cut its stake in Lifepoint Health Inc (NASDAQ:LPNT).

More notable recent Bank of Montreal (USA) (NYSE:BMO) news were published by: Fool.ca which released: “Why Bank of Montreal May Appeal More to Investors Than Any Other Bank” on February 15, 2017, also Fool.ca with their article: “3 Reasons I Like Bank of Montreal and 1 Reason I Don’t” published on November 29, 2016, Fool.ca published: “Is Bank of Montreal Overvalued?” on April 07, 2017. More interesting news about Bank of Montreal (USA) (NYSE:BMO) were released by: Bloomberg.com and their article: “Bank of Montreal Braces for Loan Losses as US Growth Ebbs” published on May 24, 2017 as well as Fool.ca‘s news article titled: “Bank of Montreal: The Ultimate Bank Stock” with publication date: March 29, 2017.

Bank of Montreal (USA) (NYSE:BMO) Ratings Coverage

Among 12 analysts covering Bank Of Montreal (NYSE:BMO), 4 have Buy rating, 0 Sell and 8 Hold. Therefore 33% are positive. Bank Of Montreal had 27 analyst reports since August 4, 2015 according to SRatingsIntel. RBC Capital Markets maintained it with “Sector Perform” rating and $84 target in Friday, September 11 report. Dundee Securities initiated the stock with “Neutral” rating in Wednesday, September 21 report. The rating was upgraded by TD Securities to “Buy” on Wednesday, December 2. The firm has “Sector Perform” rating given on Wednesday, August 26 by Scotia Capital. As per Tuesday, May 23, the company rating was upgraded by Barclays Capital. The firm earned “Sector Perform” rating on Wednesday, August 26 by National Bank Canada. The stock of Bank of Montreal (USA) (NYSE:BMO) earned “Hold” rating by Canaccord Genuity on Thursday, May 26. The company was maintained on Wednesday, December 2 by Barclays Capital. The stock of Bank of Montreal (USA) (NYSE:BMO) earned “Neutral” rating by Credit Suisse on Tuesday, March 8. RBC Capital Markets maintained the stock with “Sector Perform” rating in Wednesday, August 24 report.

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