Nuveen Asset Management LLC Acquires 2,522 Shares of Bank of Montreal (NYSE:BMO)

Nuveen Asset Management LLC raised its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,579,064 shares of the bank's stock after acquiring an additional 2,522 shares during the quarter. Nuveen Asset Management LLC owned about 0.22% of Bank of Montreal worth $153,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. IFP Advisors Inc raised its holdings in Bank of Montreal by 179.5% during the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank's stock valued at $30,000 after acquiring an additional 201 shares during the period. Addison Advisors LLC raised its holdings in Bank of Montreal by 282.8% during the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank's stock valued at $32,000 after acquiring an additional 246 shares during the period. Vision Financial Markets LLC bought a new stake in Bank of Montreal during the 4th quarter valued at $39,000. Dunhill Financial LLC bought a new stake in Bank of Montreal during the 4th quarter valued at $39,000. Finally, First Horizon Advisors Inc. raised its holdings in Bank of Montreal by 140.9% during the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock valued at $59,000 after acquiring an additional 358 shares during the period. Institutional investors own 45.82% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BMO. Scotiabank began coverage on shares of Bank of Montreal in a report on Thursday. They issued a "sector perform" rating on the stock. StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Cibc World Mkts cut shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. CIBC cut shares of Bank of Montreal from a "sector outperform" rating to a "neutral" rating in a report on Friday, April 4th. Finally, 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 report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Bank of Montreal has an average rating of "Hold" and an average price target of $128.40.

Bank of Montreal Trading Up 0.6%

NYSE BMO traded up $0.64 during trading on Monday, hitting $103.49. 281,172 shares of the company's stock traded hands, compared to its average volume of 852,003. The stock has a fifty day moving average of $95.69 and a two-hundred day moving average of $97.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $106.00. The firm has a market cap of $74.93 billion, a P/E ratio of 14.83, a PEG ratio of 1.43 and a beta of 1.03.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $1.36. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The company had revenue of $9.27 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same period in the prior year, the business posted $2.56 earnings per share. Bank of Montreal's revenue for the quarter was up 20.8% on a year-over-year basis. As a group, sell-side analysts expect 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 paid a dividend of $1.1094 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal's dividend payout ratio is 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.