Envestnet Portfolio Solutions Inc. Takes $1.90 Million Position in Bank of Montreal (NYSE:BMO)

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

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Passumpsic Savings Bank boosted its holdings in shares of Bank of Montreal by 2.1% in the third quarter. Passumpsic Savings Bank now owns 5,142 shares of the bank’s stock valued at $464,000 after acquiring an additional 105 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Bank of Montreal by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank’s stock valued at $776,000 after acquiring an additional 113 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Bank of Montreal by 4.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,865 shares of the bank’s stock valued at $278,000 after acquiring an additional 125 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in shares of Bank of Montreal by 2.0% in the fourth quarter. Wealthspire Advisors LLC now owns 6,355 shares of the bank’s stock valued at $617,000 after acquiring an additional 125 shares in the last quarter. Finally, Caprock Group LLC boosted its holdings in Bank of Montreal by 4.6% during the fourth quarter. Caprock Group LLC now owns 3,185 shares of the bank’s stock worth $309,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Bank of Montreal Stock Down 0.2 %

Shares of NYSE BMO opened at $97.88 on Friday. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $106.00. 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 company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s 50-day moving average is $99.46 and its two-hundred day moving average is $95.21.

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

Bank of Montreal Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be given a $1.1094 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Tuesday, April 29th. Bank of Montreal’s dividend payout ratio is presently 57.09%.

Wall Street Analysts Forecast Growth

BMO has been the topic of a number of research analyst reports. Cibc World Mkts raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Friday, February 28th. CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Royal Bank of Canada boosted their price objective 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. Finally, Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of Montreal presently has an average rating of “Moderate Buy” and an average target price of $128.40.

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.