5,176 Shares in Bank of Montreal (NYSE:BMO) Bought by SVB Wealth LLC

SVB Wealth LLC acquired a new stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,176 shares of the bank's stock, valued at approximately $502,000.

Several other institutional investors have also added to or reduced their stakes in the business. Toronto Dominion Bank lifted its holdings in Bank of Montreal by 14.9% during the third 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 lifted 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 purchasing an additional 625,797 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Bank of Montreal by 2.5% during the third quarter. The Manufacturers Life Insurance Company now owns 4,793,309 shares of the bank's stock valued at $432,823,000 after purchasing an additional 114,909 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Bank of Montreal by 261.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,249,552 shares of the bank's stock valued at $383,449,000 after purchasing an additional 3,074,389 shares during the last quarter. Finally, Fiera Capital Corp lifted its holdings in Bank of Montreal by 7.2% during the fourth quarter. Fiera Capital Corp now owns 3,701,814 shares of the bank's stock valued at $358,991,000 after purchasing an additional 248,096 shares during the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research firms have commented on BMO. 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. CIBC raised shares of Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, December 6th. Scotiabank raised shares of Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a report on Friday, December 6th. StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Finally, Cibc World Mkts raised shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, December 6th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bank of Montreal currently has an average rating of "Moderate Buy" and a consensus target price of $128.40.

Bank of Montreal Price Performance

Bank of Montreal stock traded up $0.46 during mid-day trading on Friday, hitting $98.58. 414,115 shares of the company traded hands, compared to its average volume of 628,253. Bank of Montreal has a one year low of $76.98 and a one year high of $106.00. The stock has a market cap of $71.85 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07. 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 fifty day moving average price of $99.47 and a 200-day moving average price of $94.49.

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

Bank of Montreal Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, April 29th will be paid a dividend of $1.1094 per share. This represents a $4.44 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Tuesday, April 29th. Bank of Montreal's dividend payout ratio (DPR) 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.