Envestnet Portfolio Solutions Inc. Invests $1.90 Million in Bank of Montreal (NYSE:BMO)

Envestnet Portfolio Solutions Inc. purchased a new position in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,612 shares of the bank's stock, valued at approximately $1,903,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis Advisors LLC lifted its holdings in Bank of Montreal by 16.7% during the fourth quarter. Natixis Advisors LLC now owns 36,175 shares of the bank's stock worth $3,511,000 after buying an additional 5,185 shares during the period. Intact Investment Management Inc. raised its position in shares of Bank of Montreal by 35.6% in the 4th quarter. Intact Investment Management Inc. now owns 797,460 shares of the bank's stock worth $77,408,000 after acquiring an additional 209,251 shares in the last quarter. Aviso Financial Inc. lifted its stake in shares of Bank of Montreal by 2.4% during the 4th quarter. Aviso Financial Inc. now owns 1,027,872 shares of the bank's stock worth $99,763,000 after purchasing an additional 23,681 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Bank of Montreal by 1.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 55,674 shares of the bank's stock valued at $5,403,000 after purchasing an additional 988 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Bank of Montreal by 1.9% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 96,987 shares of the bank's stock valued at $9,396,000 after purchasing an additional 1,800 shares during the last quarter. 45.82% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

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

Bank of Montreal Stock Performance

BMO stock traded up $0.59 during midday trading on Tuesday, reaching $98.06. The stock had a trading volume of 452,917 shares, compared to its average volume of 793,382. The firm has a fifty day simple moving average of $99.45 and a two-hundred day simple moving average of $95.58. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $106.00. 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 $71.29 billion, a PE ratio of 14.05, a P/E/G ratio of 1.43 and a beta of 1.07.

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

Bank of Montreal Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be given a dividend of $1.1094 per share. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 dividend on an annualized basis and a yield of 4.53%. Bank of Montreal's dividend payout ratio is presently 57.09%.

Bank of Montreal 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.