Intech Investment Management LLC Cuts Holdings in Bank of Montreal (NYSE:BMO)

Intech Investment Management LLC trimmed its position in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 25.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc boosted its stake in shares of Bank of Montreal by 179.5% in the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank's stock valued at $30,000 after purchasing an additional 201 shares during the period. Addison Advisors LLC lifted its holdings in 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 buying an additional 246 shares in the last quarter. Vision Financial Markets LLC purchased a new position in Bank of Montreal in the 4th quarter valued at approximately $39,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Bank of Montreal in the third quarter worth $45,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Bank of Montreal by 140.9% in the fourth quarter. First Horizon Advisors Inc. now owns 612 shares of the bank's stock worth $59,000 after acquiring an additional 358 shares in the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank of Montreal Stock Performance

NYSE:BMO traded down $1.20 during mid-day trading on Friday, reaching $96.70. 1,041,033 shares of the stock were exchanged, compared to its average volume of 794,157. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $106.00. The company has a 50 day simple moving average of $99.44 and a 200-day simple moving average of $95.40. The stock has a market capitalization of $70.30 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.43 and a beta of 1.07.

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Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 EPS for the quarter, beating 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 firm had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the prior year, the firm earned $2.56 EPS. Bank of Montreal's revenue for the quarter was up 20.8% on a year-over-year basis. Analysts anticipate that Bank of Montreal will post 7.71 earnings per share 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 issued a dividend of $1.1094 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date is Tuesday, April 29th. Bank of Montreal's dividend payout ratio is currently 57.09%.

Analyst Ratings Changes

BMO has been the topic of several analyst reports. CIBC upgraded Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, December 6th. Cibc World Mkts raised Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, December 6th. Scotiabank raised Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research report on Friday, December 6th. StockNews.com upgraded shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Royal Bank of Canada raised their price objective on shares of Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Bank of Montreal currently has an average rating of "Moderate Buy" and a consensus target price of $128.40.

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.