Envestnet Portfolio Solutions Inc. Takes Position in Bank of Montreal (NYSE:BMO)

Envestnet Portfolio Solutions Inc. purchased a new position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,612 shares of the bank’s stock, valued at approximately $1,903,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc increased its position in Bank of Montreal by 179.5% during the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock worth $30,000 after purchasing an additional 201 shares during the last quarter. Addison Advisors LLC increased its position in Bank of Montreal by 282.8% during the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock worth $32,000 after purchasing an additional 246 shares during the last quarter. Vision Financial Markets LLC acquired a new position in Bank of Montreal during the fourth quarter worth approximately $39,000. Wilmington Savings Fund Society FSB acquired a new position in Bank of Montreal during the third quarter worth approximately $45,000. Finally, First Horizon Advisors Inc. increased its position in Bank of Montreal by 140.9% during the fourth quarter. First Horizon Advisors Inc. now owns 612 shares of the bank’s stock worth $59,000 after purchasing an additional 358 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Price Performance

Shares of BMO stock opened at $97.88 on Friday. The company has a market capitalization of $71.16 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07. The firm has a fifty day simple moving average of $99.46 and a 200-day simple moving average of $95.21. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $106.00.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, beating the consensus estimate of $1.68 by $1.36. The business had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.56 earnings per share. Equities research analysts anticipate that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 dividend on an annualized basis and a yield of 4.53%. Bank of Montreal’s dividend payout ratio (DPR) is 57.09%.

Analyst Ratings Changes

Several brokerages recently commented on BMO. Royal Bank of Canada upped their price target on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, December 6th. CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, December 6th. Cibc World Mkts raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bank of Montreal currently has a consensus rating of “Moderate Buy” and an average target price of $128.40.

Bank of Montreal Company 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.