Acadian Asset Management LLC Lowered Bank Montreal Que (BMO) Stake by $29.06 Million

April 17, 2018 - By Vivian Currie

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Acadian Asset Management Llc decreased its stake in Bank Montreal Que (BMO) by 4.87% based on its latest 2017Q4 regulatory filing with the SEC. Acadian Asset Management Llc sold 363,300 shares as the company’s stock declined 5.54% with the market. The institutional investor held 7.09 million shares of the commercial banks company at the end of 2017Q4, valued at $569.56 million, down from 7.46 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 less bullish one the $46.78B market cap company. The stock increased 0.01% or $0.01 during the last trading session, reaching $75.71. About 101,245 shares traded. Bank of Montreal (NYSE:BMO) has risen 0.84% since April 17, 2017 and is uptrending. It has underperformed by 10.71% the S&P500.

Acadian Asset Management Llc, which manages about $65.15 billion and $23.06B US Long portfolio, upped its stake in Domtar Corp (NYSE:UFS) by 321,603 shares to 371,502 shares, valued at $18.40 million in 2017Q4, according to the filing. It also increased its holding in Baxter Intl Inc (NYSE:BAX) by 401,532 shares in the quarter, for a total of 657,855 shares, and has risen its stake in M D C Hldgs Inc (NYSE:MDC).

Analysts await Bank of Montreal (NYSE:BMO) to report earnings on May, 23. They expect $1.68 earnings per share, up 15.86 % or $0.23 from last year’s $1.45 per share. BMO’s profit will be $1.04B for 11.27 P/E if the $1.68 EPS becomes a reality. After $1.68 actual earnings per share reported by Bank of Montreal for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

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