Wellington Management Group LLP Purchases 36,931 Shares of Bank of Montreal (NYSE:BMO)

Wellington Management Group LLP increased its position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 29.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,503 shares of the bank's stock after acquiring an additional 36,931 shares during the period. Wellington Management Group LLP's holdings in Bank of Montreal were worth $15,768,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Bank of Montreal by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 30,494,749 shares of the bank's stock worth $2,960,491,000 after purchasing an additional 576,744 shares during the period. TD Asset Management Inc. raised its position in Bank of Montreal by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 17,615,141 shares of the bank's stock worth $1,709,215,000 after acquiring an additional 486,984 shares during the period. 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. Norges Bank bought a new position in shares of Bank of Montreal in the fourth quarter valued at approximately $1,014,633,000. Finally, Beutel Goodman & Co Ltd. increased its position in shares of Bank of Montreal by 11.9% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 6,616,614 shares of the bank's stock worth $642,016,000 after purchasing an additional 704,197 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Bank of Montreal Trading Up 1.1 %

Shares of NYSE:BMO traded up $0.97 during mid-day trading on Monday, reaching $92.11. 33,435 shares of the company were exchanged, compared to its average volume of 861,520. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $66.97 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.43 and a beta of 0.95. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $106.00. The firm's 50-day simple moving average is $97.42 and its 200 day simple moving average is $96.22.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.68 by $1.36. The company had revenue of $9.27 billion for the quarter, compared to analysts' expectations of $8.58 billion. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. Bank of Montreal's quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm earned $2.56 earnings per share. Equities research analysts forecast 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. Shareholders of record on Tuesday, April 29th will be issued a dividend of $1.1094 per share. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 annualized dividend and a yield of 4.82%. Bank of Montreal's dividend payout ratio (DPR) is currently 57.35%.

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.