Assetmark Inc. Raises Position in Bank of Montreal (NYSE:BMO)

Assetmark Inc. boosted its position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 11,345.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,162 shares of the bank's stock after buying an additional 13,047 shares during the period. Assetmark Inc.'s holdings in Bank of Montreal were worth $1,277,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BMO. IFP Advisors Inc increased its position in shares of Bank of Montreal by 179.5% during the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock worth $30,000 after purchasing an additional 201 shares in the last quarter. Addison Advisors LLC grew its holdings in shares of Bank of Montreal by 282.8% during the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank's stock worth $32,000 after buying an additional 246 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bank of Montreal in the third quarter valued at about $45,000. First Horizon Advisors Inc. lifted its stake in shares of Bank of Montreal by 140.9% in the fourth quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock worth $59,000 after buying an additional 358 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Bank of Montreal by 47.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank's stock worth $66,000 after acquiring an additional 219 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BMO. CIBC upgraded shares of Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, December 6th. Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, December 6th. StockNews.com upgraded Bank of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Scotiabank upgraded Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a report on Friday, December 6th. Finally, Royal Bank of Canada upped their price objective on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $128.40.

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Bank of Montreal Trading Down 2.3 %

NYSE BMO opened at $95.39 on Wednesday. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $106.00. The stock has a market capitalization of $69.52 billion, a P/E ratio of 13.67, a PEG ratio of 1.43 and a beta of 1.07. The firm's 50-day moving average is $99.45 and its two-hundred day moving average is $94.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Tuesday, February 25th. The bank reported $3.04 EPS for the quarter, topping the consensus estimate of $1.68 by $1.36. The firm had revenue of $9.27 billion for the quarter, compared to analyst estimates of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The business's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.56 EPS. On average, sell-side analysts anticipate that Bank of Montreal will post 7.71 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be issued a $1.1094 dividend. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 annualized dividend and a dividend yield of 4.65%. Bank of Montreal's dividend payout ratio is presently 57.09%.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.

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