Fiera Capital Corp Acquires 248,096 Shares of Bank of Montreal (NYSE:BMO)

Fiera Capital Corp lifted its position in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,701,814 shares of the bank's stock after acquiring an additional 248,096 shares during the period. Bank of Montreal comprises approximately 1.1% of Fiera Capital Corp's holdings, making the stock its 28th largest position. Fiera Capital Corp owned approximately 0.51% of Bank of Montreal worth $358,991,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Toronto Dominion Bank lifted its stake in shares of Bank of Montreal by 14.9% in the 3rd quarter. Toronto Dominion Bank now owns 11,812,353 shares of the bank's stock valued at $1,065,474,000 after purchasing an additional 1,534,508 shares during the last quarter. FMR LLC raised its holdings in Bank of Montreal by 14.2% during the third quarter. FMR LLC now owns 5,046,721 shares of the bank's stock valued at $455,397,000 after buying an additional 625,797 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Bank of Montreal by 2.5% in the third quarter. The Manufacturers Life Insurance Company now owns 4,793,309 shares of the bank's stock worth $432,823,000 after buying an additional 114,909 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Bank of Montreal by 261.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,249,552 shares of the bank's stock worth $383,449,000 after buying an additional 3,074,389 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Bank of Montreal by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,327,465 shares of the bank's stock worth $300,137,000 after acquiring an additional 144,252 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

Bank of Montreal Stock Performance

Shares of NYSE:BMO traded up $0.61 on Friday, hitting $101.08. 392,733 shares of the company were exchanged, compared to its average volume of 554,264. The company's 50 day moving average price is $98.57 and its two-hundred day moving average price is $92.62. The firm has a market capitalization of $73.68 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.40 and a beta of 1.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. Bank of Montreal has a one year low of $76.98 and a one year high of $104.63.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be given a dividend of $1.1329 per share. The ex-dividend date is Thursday, January 30th. This is a boost from Bank of Montreal's previous quarterly dividend of $1.12. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.48%. Bank of Montreal's payout ratio is currently 63.18%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BMO. StockNews.com upgraded Bank of Montreal from a "sell" rating to a "hold" rating in a report on Tuesday, February 11th. Cibc World Mkts upgraded shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 6th. Royal Bank of Canada upgraded shares of Bank of Montreal from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $133.00 to $161.00 in a research note on Wednesday, January 8th. CIBC raised shares of Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday, December 6th. Finally, Scotiabank raised Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research report on Friday, December 6th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.00.

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.