Bank Of Montreal $BMO Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 21.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,730 shares of the bank’s stock after selling 3,667 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Bank Of Montreal were worth $1,782,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BMO. Canerector Inc. grew its position in Bank Of Montreal by 18,035.0% during the 3rd quarter. Canerector Inc. now owns 22,668,750 shares of the bank’s stock worth $2,952,605,000 after purchasing an additional 22,543,750 shares during the period. TD Asset Management Inc grew its position in Bank Of Montreal by 10.3% during the 3rd quarter. TD Asset Management Inc now owns 19,079,026 shares of the bank’s stock worth $2,486,691,000 after purchasing an additional 1,789,188 shares during the period. UBS Group AG grew its position in Bank Of Montreal by 155.3% during the 3rd quarter. UBS Group AG now owns 2,127,377 shares of the bank’s stock worth $277,091,000 after purchasing an additional 1,294,169 shares during the period. CIBC Asset Management Inc grew its position in Bank Of Montreal by 17.3% during the 3rd quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock worth $949,441,000 after purchasing an additional 1,070,546 shares during the period. Finally, Vanguard Group Inc. grew its position in Bank Of Montreal by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 33,017,205 shares of the bank’s stock worth $4,287,878,000 after purchasing an additional 673,248 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on BMO. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank Of Montreal in a research report on Friday, April 17th. Barclays downgraded Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a research report on Friday, March 20th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a research note on Monday, May 4th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bank Of Montreal currently has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Trading Up 0.9%

BMO stock opened at $161.10 on Friday. The company’s 50-day simple moving average is $145.72 and its 200-day simple moving average is $137.81. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 52-week low of $102.70 and a 52-week high of $161.55. The firm has a market cap of $112.91 billion, a P/E ratio of 18.71, a PEG ratio of 0.90 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.16. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The business had revenue of $7.21 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period in the prior year, the company posted $3.04 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts forecast that Bank Of Montreal will post 11.56 EPS for the current fiscal year.

Bank Of Montreal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Wednesday, April 29th will be paid a $1.67 dividend. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $6.68 dividend on an annualized basis and a yield of 4.1%. Bank Of Montreal’s dividend payout ratio (DPR) is currently 55.75%.

Bank Of Montreal Company Profile

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.