Intact Investment Management Inc. Sells 14,320 Shares of Bank Of Montreal $BMO

Intact Investment Management Inc. lessened its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 6.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 217,230 shares of the bank’s stock after selling 14,320 shares during the quarter. Intact Investment Management Inc.’s holdings in Bank Of Montreal were worth $28,310,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BMO. AQR Capital Management LLC lifted its position in Bank Of Montreal by 87.1% during the first quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock valued at $548,000 after purchasing an additional 2,673 shares during the period. Park Avenue Securities LLC purchased a new stake in Bank Of Montreal during the 2nd quarter valued at $509,000. Raleigh Capital Management Inc. raised its stake in Bank Of Montreal by 2.3% during the 2nd quarter. Raleigh Capital Management Inc. now owns 11,637 shares of the bank’s stock valued at $1,287,000 after buying an additional 258 shares during the last quarter. Gold Investment Management Ltd. lifted its holdings in shares of Bank Of Montreal by 0.9% during the 2nd quarter. Gold Investment Management Ltd. now owns 22,427 shares of the bank’s stock valued at $2,486,000 after buying an additional 210 shares during the period. Finally, Cliftonlarsonallen Wealth Advisors LLC purchased a new position in shares of Bank Of Montreal in the 2nd quarter worth $2,107,000. 45.82% of the stock is currently owned by institutional investors.

Bank Of Montreal Stock Down 0.7%

Shares of BMO stock opened at $137.72 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. Bank Of Montreal has a one year low of $85.40 and a one year high of $139.00. The company’s fifty day moving average price is $129.65 and its 200-day moving average price is $124.40. The company has a market capitalization of $97.45 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.14 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.20. The business had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.51 billion. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.Bank Of Montreal’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 EPS. Sell-side analysts expect that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be given a dividend of $1.67 per share. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.63. This represents a $6.68 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Friday, January 30th. Bank Of Montreal’s dividend payout ratio (DPR) is 57.35%.

Analyst Upgrades and Downgrades

BMO has been the subject of a number of research reports. Wall Street Zen upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Royal Bank Of Canada downgraded Bank Of Montreal from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $168.00 to $163.00 in a research note on Friday, October 3rd. Raymond James Financial assumed coverage on shares of Bank Of Montreal in a research report on Monday, November 24th. They set a “market perform” rating for the company. Scotiabank reissued a “sector perform” rating on shares of Bank Of Montreal in a report on Friday, January 9th. Finally, TD Securities restated a “hold” rating on shares of Bank Of Montreal in a research report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Bank Of Montreal currently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.