Bank of Montreal (NYSE:BMO) is Intact Investment Management Inc.'s 4th Largest Position

Intact Investment Management Inc. boosted its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 35.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 797,460 shares of the bank's stock after purchasing an additional 209,251 shares during the quarter. Bank of Montreal comprises about 2.7% of Intact Investment Management Inc.'s investment portfolio, making the stock its 4th largest position. Intact Investment Management Inc. owned about 0.11% of Bank of Montreal worth $77,408,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc raised 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 acquiring an additional 201 shares during the period. Addison Advisors LLC raised its stake in shares of Bank of Montreal by 282.8% in the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank's stock valued at $32,000 after acquiring an additional 246 shares during the period. Vision Financial Markets LLC purchased a new stake in shares of Bank of Montreal in the fourth quarter valued at $39,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bank of Montreal in the third quarter valued at $45,000. Finally, First Horizon Advisors Inc. raised 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 valued at $59,000 after acquiring an additional 358 shares during the period. Hedge funds and other institutional investors own 45.82% of the company's stock.

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Wall Street Analyst Weigh In

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

Bank of Montreal Stock Down 0.4 %

Bank of Montreal stock traded down $0.42 during midday trading on Tuesday, hitting $97.60. 468,802 shares of the company's stock were exchanged, compared to its average volume of 787,648. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $106.00. The firm has a 50-day moving average of $99.47 and a two-hundred day moving average of $95.08. The company has a market cap of $71.14 billion, a PE ratio of 13.98, a P/E/G ratio of 1.43 and a beta of 1.07.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $8.58 billion. During the same period in the prior year, the business earned $2.56 EPS. The firm's quarterly revenue was up 20.8% on a year-over-year basis. As a group, analysts expect that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be issued a $1.1094 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Tuesday, April 29th. Bank of Montreal's dividend payout ratio is currently 57.09%.

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.