Envestnet Asset Management Inc. Has $50.12 Million Stake in Bank Of Montreal $BMO

Envestnet Asset Management Inc. lowered its position in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 453,070 shares of the bank’s stock after selling 11,053 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Bank Of Montreal worth $50,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Ascent Group LLC increased its holdings in Bank Of Montreal by 3.5% during the 2nd quarter. Ascent Group LLC now owns 2,756 shares of the bank’s stock valued at $305,000 after purchasing an additional 92 shares in the last quarter. Princeton Global Asset Management LLC grew its holdings in shares of Bank Of Montreal by 40.0% during the second quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its stake in shares of Bank Of Montreal by 4.5% in the second quarter. Focus Partners Advisor Solutions LLC now owns 2,616 shares of the bank’s stock valued at $289,000 after buying an additional 112 shares in the last quarter. Wealth Alliance LLC raised its holdings in shares of Bank Of Montreal by 1.8% in the first quarter. Wealth Alliance LLC now owns 8,146 shares of the bank’s stock valued at $778,000 after buying an additional 142 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of Bank Of Montreal by 0.7% in the second quarter. TD Private Client Wealth LLC now owns 23,986 shares of the bank’s stock valued at $2,654,000 after buying an additional 169 shares during the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BMO has been the topic of a number of research analyst reports. National Bankshares reissued an “outperform” rating on shares of Bank Of Montreal in a report on Friday, August 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank Of Montreal in a research report on Wednesday, October 8th. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. CIBC upgraded shares of Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, September 5th. Finally, Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bank Of Montreal presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.00.

Bank Of Montreal Stock Up 0.5%

Shares of NYSE:BMO opened at $124.23 on Friday. The company has a 50 day moving average price of $126.31 and a two-hundred day moving average price of $113.61. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $88.50 billion, a PE ratio of 15.21, a PEG ratio of 1.28 and a beta of 1.03. Bank Of Montreal has a 52 week low of $85.40 and a 52 week high of $131.36.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.21. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The company had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $8.84 billion. During the same period last year, the firm posted $2.64 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be issued a dividend of $1.63 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.18. This represents a $6.52 annualized dividend and a yield of 5.2%. The ex-dividend date is Thursday, October 30th. Bank Of Montreal’s dividend payout ratio is presently 58.02%.

About Bank Of Montreal

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.