Envestnet Asset Management Inc. Acquires 3,403 Shares of Bank Of Montreal (NYSE:BMO)

Envestnet Asset Management Inc. increased its holdings in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 464,123 shares of the bank's stock after purchasing an additional 3,403 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Bank Of Montreal worth $44,328,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BMO. Norges Bank bought a new stake in Bank Of Montreal during the fourth quarter valued at $1,014,633,000. The Manufacturers Life Insurance Company grew its stake in shares of Bank Of Montreal by 42.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank's stock valued at $664,742,000 after buying an additional 2,044,862 shares during the period. Mackenzie Financial Corp grew its stake in shares of Bank Of Montreal by 15.4% in the 4th quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank's stock valued at $1,184,636,000 after buying an additional 1,630,962 shares during the period. Federated Hermes Inc. grew its stake in shares of Bank Of Montreal by 1,527.7% in the 4th quarter. Federated Hermes Inc. now owns 1,160,494 shares of the bank's stock valued at $112,626,000 after buying an additional 1,089,199 shares during the period. Finally, Toronto Dominion Bank grew its stake in shares of Bank Of Montreal by 8.6% in the 4th quarter. Toronto Dominion Bank now owns 12,833,065 shares of the bank's stock valued at $1,244,284,000 after buying an additional 1,020,712 shares during the period. Institutional investors own 45.82% of the company's stock.

Bank Of Montreal Stock Performance

Bank Of Montreal stock opened at $113.74 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $81.92 billion, a PE ratio of 14.75, a P/E/G ratio of 1.25 and a beta of 1.07. The firm has a fifty day simple moving average of $106.49 and a two-hundred day simple moving average of $100.46. Bank Of Montreal has a twelve month low of $76.98 and a twelve month high of $114.76.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, meeting the consensus estimate of $1.84. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The firm had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same period in the prior year, the firm posted $2.59 earnings per share. The company's quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts expect that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be paid a dividend of $1.1801 per share. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.15%. Bank Of Montreal's dividend payout ratio (DPR) is currently 57.33%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BMO shares. Scotiabank started coverage on Bank Of Montreal in a research note on Thursday, May 15th. They issued a "sector perform" rating for the company. Cibc World Mkts downgraded Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. Finally, CIBC restated a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Bank Of Montreal currently has a consensus rating of "Hold" and a consensus price target of $129.50.

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.

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