Intech Investment Management LLC Purchases 62,379 Shares of Bank of Montreal (NYSE:BMO)

Intech Investment Management LLC increased its position in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 152.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 103,281 shares of the bank’s stock after acquiring an additional 62,379 shares during the quarter. Intech Investment Management LLC’s holdings in Bank of Montreal were worth $8,667,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BMO. FIL Ltd lifted its position in Bank of Montreal by 138.3% during the fourth quarter. FIL Ltd now owns 9,872,642 shares of the bank’s stock worth $976,870,000 after purchasing an additional 5,729,145 shares during the period. National Bank of Canada FI lifted its position in Bank of Montreal by 38.0% during the first quarter. National Bank of Canada FI now owns 14,069,787 shares of the bank’s stock worth $1,318,457,000 after purchasing an additional 3,874,573 shares during the period. TD Asset Management Inc lifted its position in Bank of Montreal by 19.9% during the fourth quarter. TD Asset Management Inc now owns 19,225,705 shares of the bank’s stock worth $1,911,635,000 after purchasing an additional 3,187,998 shares during the period. Capital Research Global Investors bought a new position in shares of Bank of Montreal in the first quarter worth about $307,237,000. Finally, JARISLOWSKY FRASER Ltd lifted its holdings in shares of Bank of Montreal by 36.9% in the second quarter. JARISLOWSKY FRASER Ltd now owns 5,239,662 shares of the bank’s stock worth $439,705,000 after acquiring an additional 1,412,532 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group assumed coverage on shares of Bank of Montreal in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. TD Securities cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. StockNews.com cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, August 29th. Scotiabank cut shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $123.00 to $112.00 in a report on Wednesday, August 28th. Finally, Royal Bank of Canada cut shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $119.75.

Bank of Montreal Stock Performance

Bank of Montreal stock opened at $89.91 on Friday. The business has a 50 day moving average of $84.80 and a 200-day moving average of $88.83. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $100.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $65.57 billion, a P/E ratio of 14.94, a P/E/G ratio of 2.32 and a beta of 1.11.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.12). The firm had revenue of $8.21 billion during the quarter, compared to analyst estimates of $8.25 billion. Bank of Montreal had a net margin of 8.50% and a return on equity of 11.23%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.08 EPS. On average, equities research analysts predict that Bank of Montreal will post 8.06 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, October 30th will be given a dividend of $1.123 per share. This represents a $4.49 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal’s dividend payout ratio is presently 76.25%.

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.