Envestnet Asset Management Inc. Lowers Stock Holdings in Bank Of Montreal $BMO

Envestnet Asset Management Inc. trimmed its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 433,452 shares of the bank’s stock after selling 19,618 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of Bank Of Montreal worth $56,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Bank Of Montreal during the second quarter worth approximately $1,184,220,000. Public Sector Pension Investment Board raised its position in Bank Of Montreal by 2,986.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 2,170,118 shares of the bank’s stock worth $240,009,000 after buying an additional 2,099,800 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Bank Of Montreal by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 32,194,013 shares of the bank’s stock worth $3,567,773,000 after acquiring an additional 1,196,237 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Bank Of Montreal by 17.3% in the 3rd quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock worth $949,441,000 after acquiring an additional 1,070,546 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Bank Of Montreal by 19.2% in the second quarter. Geode Capital Management LLC now owns 5,842,134 shares of the bank’s stock valued at $655,674,000 after acquiring an additional 939,156 shares in the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BMO shares. Natl Bk Canada downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, January 27th. Wall Street Zen raised Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Raymond James Financial initiated coverage on shares of Bank Of Montreal in a research report on Monday, November 24th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Trading Up 2.1%

Shares of BMO stock opened at $144.65 on Tuesday. The stock has a market cap of $102.35 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.17 and a beta of 0.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $144.82. The business has a fifty day simple moving average of $133.33 and a 200-day simple moving average of $126.39.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 EPS for the quarter, topping the consensus estimate of $2.16 by $0.20. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same period in the previous year, the firm earned $1.90 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Friday, January 30th will be given a $1.67 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. This represents a $6.68 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, January 30th. Bank Of Montreal’s dividend payout ratio (DPR) is currently 59.68%.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.