Bank of Montreal (NYSE:BMO) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 665.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 460,720 shares of the bank's stock after purchasing an additional 400,558 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of Bank of Montreal worth $44,713,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. IFP Advisors Inc grew its holdings 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 buying an additional 201 shares during the last quarter. Addison Advisors LLC lifted its position in Bank of Montreal by 282.8% during the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank's stock worth $32,000 after acquiring an additional 246 shares during the period. Vision Financial Markets LLC acquired a new stake in Bank of Montreal during the 4th quarter worth approximately $39,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Bank of Montreal in the 3rd quarter valued at approximately $45,000. Finally, First Horizon Advisors Inc. increased its holdings 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 valued at $59,000 after purchasing an additional 358 shares during the period. 45.82% of the stock is currently owned by institutional investors and hedge funds.

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Bank of Montreal Price Performance

BMO stock traded up $0.37 during midday trading on Wednesday, hitting $93.06. 74,284 shares of the stock were exchanged, compared to its average volume of 649,156. The stock's 50-day moving average price is $97.15 and its 200-day moving average price is $96.21. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $67.65 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.43 and a beta of 0.95. Bank of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $106.00.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $1.36. The business had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.58 billion. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The business's revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.56 EPS. Research analysts predict that Bank of Montreal will post 7.71 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be given a $1.1094 dividend. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 annualized dividend and a dividend yield of 4.77%. Bank of Montreal's dividend payout ratio is presently 57.35%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. CIBC lowered shares of Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a research note on Friday, April 4th. StockNews.com upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Cibc World Mkts cut Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of Montreal has a consensus rating of "Hold" and an average target price of $128.40.

About Bank of Montreal

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.