Intech Investment Management LLC Has $7.78 Million Position in Bank of Montreal (NYSE:BMO)

Intech Investment Management LLC decreased its holdings in shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) by 25.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,210 shares of the bank’s stock after selling 26,886 shares during the quarter. Intech Investment Management LLC’s holdings in Bank of Montreal were worth $7,783,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. IFP Advisors Inc increased its position in Bank of Montreal by 179.5% during the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock worth $30,000 after buying an additional 201 shares during the last quarter. Addison Advisors LLC boosted its stake in shares of Bank of Montreal by 282.8% during the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock worth $32,000 after acquiring an additional 246 shares in the last quarter. Vision Financial Markets LLC acquired a new position in shares of Bank of Montreal during the 4th quarter valued at about $39,000. Wilmington Savings Fund Society FSB acquired a new stake in Bank of Montreal in the 3rd quarter worth approximately $45,000. Finally, First Horizon Advisors Inc. lifted its holdings in Bank of Montreal by 140.9% in the 4th quarter. First Horizon Advisors Inc. now owns 612 shares of the bank’s stock worth $59,000 after purchasing an additional 358 shares during the last quarter. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Price Performance

Bank of Montreal stock opened at $97.60 on Wednesday. The business has a 50 day simple moving average of $99.48 and a 200 day simple moving average of $95.18. Bank of Montreal has a one year low of $76.98 and a one year high of $106.00. The company has a market capitalization of $71.14 billion, a PE ratio of 13.98, 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.

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, topping the consensus estimate 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 quarter last year, the business posted $2.56 earnings per share. The company’s revenue was up 20.8% on a year-over-year basis. On average, sell-side analysts forecast that Bank of Montreal will post 7.71 EPS for the current fiscal year.

Bank of Montreal Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, April 29th will be given a dividend of $1.1094 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 annualized dividend and a yield of 4.55%. Bank of Montreal’s dividend payout ratio (DPR) is 57.09%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Royal Bank of Canada lifted their target price 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. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. CIBC upgraded Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. Finally, Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.40.

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.