Intech Investment Management LLC Buys 3,815 Shares of Bank of Montreal (NYSE:BMO)

Intech Investment Management LLC boosted its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 107,096 shares of the bank’s stock after purchasing an additional 3,815 shares during the quarter. Intech Investment Management LLC’s holdings in Bank of Montreal were worth $9,675,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. UniSuper Management Pty Ltd lifted its stake in Bank of Montreal by 96.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,200 shares of the bank’s stock valued at $996,000 after acquiring an additional 5,000 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Bank of Montreal by 1,001.5% during the first quarter. Bessemer Group Inc. now owns 25,180 shares of the bank’s stock valued at $2,459,000 after purchasing an additional 22,894 shares in the last quarter. Capital International Investors boosted its holdings in Bank of Montreal by 0.9% during the first quarter. Capital International Investors now owns 615,949 shares of the bank’s stock worth $60,138,000 after purchasing an additional 5,675 shares during the last quarter. Bank of Nova Scotia Trust Co. grew its position in Bank of Montreal by 0.8% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 467,380 shares of the bank’s stock worth $45,654,000 after purchasing an additional 3,588 shares in the last quarter. Finally, Brown Shipley& Co Ltd bought a new stake in Bank of Montreal in the 1st quarter worth about $160,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Stock Up 0.6 %

BMO stock opened at $94.63 on Friday. Bank of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $100.12. The stock has a fifty day moving average of $91.69 and a 200-day moving average of $88.27. The company has a market capitalization of $69.04 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.12). The business had revenue of $8.21 billion during the quarter, compared to analysts’ expectations of $8.25 billion. Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. Bank of Montreal’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 EPS. As a group, equities research analysts predict that Bank of Montreal will post 8.01 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $4.49 annualized dividend and a dividend yield of 4.75%. Bank of Montreal’s dividend payout ratio is currently 72.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BMO shares. Jefferies Financial Group downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Scotiabank downgraded Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $123.00 to $112.00 in a research note on Wednesday, August 28th. Royal Bank of Canada lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, July 30th. Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and cut their price target for the stock from $134.00 to $117.00 in a report on Wednesday, August 28th. Finally, Barclays decreased their price objective on shares of Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Bank of Montreal currently has a consensus rating of “Hold” and an average target price of $119.75.

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.