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Cidel Asset Management Inc. Reduces Stake in Bank Of Montreal $BMO
Cidel Asset Management Inc. significantly reduced its stake in Bank of Montreal (BMO) by 63.7% in the fourth quarter, selling 37,398 shares and retaining 21,295 shares valued at $2.77 million. This reduction comes as Bank of Montreal reported strong quarterly earnings, beating analyst estimates with an EPS of $2.51 and revenue of $7.21 billion, and declared a quarterly dividend of $1.67 per share. Analyst sentiment for BMO remains largely positive, with a “Moderate Buy” rating and an average price target of $163.