Bank of Montreal (NYSE:BMO) Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. increased its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 72.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 588,209 shares of the bank's stock after purchasing an additional 248,098 shares during the period. Bank of Montreal accounts for 1.8% of Intact Investment Management Inc.'s holdings, making the stock its 11th biggest holding. Intact Investment Management Inc. owned about 0.08% of Bank of Montreal worth $53,082,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BMO. Van ECK Associates Corp raised its stake in shares of Bank of Montreal by 23.0% in the third quarter. Van ECK Associates Corp now owns 190,255 shares of the bank's stock worth $17,760,000 after purchasing an additional 35,614 shares during the last quarter. REDW Wealth LLC purchased a new position in Bank of Montreal during the 3rd quarter worth approximately $200,000. Farther Finance Advisors LLC lifted its stake in Bank of Montreal by 44.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,103 shares of the bank's stock valued at $99,000 after acquiring an additional 342 shares during the period. Pathway Financial Advisers LLC boosted its holdings in shares of Bank of Montreal by 2,701.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 30,454 shares of the bank's stock valued at $2,747,000 after acquiring an additional 29,367 shares during the last quarter. Finally, Mutual Advisors LLC increased its stake in shares of Bank of Montreal by 58.3% in the third quarter. Mutual Advisors LLC now owns 20,118 shares of the bank's stock worth $1,879,000 after acquiring an additional 7,411 shares during the period. Institutional investors own 45.82% of the company's stock.

Bank of Montreal Stock Down 0.8 %

Shares of BMO traded down $0.70 during midday trading on Monday, reaching $90.06. The stock had a trading volume of 1,053,437 shares, compared to its average volume of 906,113. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The company's fifty day simple moving average is $89.00 and its two-hundred day simple moving average is $88.05. The company has a market cap of $65.70 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 2.51 and a beta of 1.10. Bank of Montreal has a 1-year low of $76.83 and a 1-year high of $100.12.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.12). The company had revenue of $8.21 billion during the quarter, compared to analyst estimates of $8.25 billion. Bank of Montreal had a net margin of 8.50% and a return on equity of 11.23%. The business's revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 EPS. Equities research analysts expect that Bank of Montreal will post 8.06 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, October 30th will be issued a dividend of $1.123 per share. This represents a $4.49 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend is Wednesday, October 30th. Bank of Montreal's dividend payout ratio is currently 72.13%.

Analysts Set New Price Targets

BMO has been the subject of several recent research reports. Jefferies Financial Group cut Bank of Montreal from a "buy" rating to a "hold" rating in a research report on Tuesday, August 27th. Royal Bank of Canada cut shares of Bank of Montreal from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, July 30th. Scotiabank cut Bank of Montreal from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the company from $123.00 to $112.00 in a research report on Wednesday, August 28th. Barclays decreased their target price on Bank of Montreal from $132.00 to $126.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 28th. Finally, Bank of America cut Bank of Montreal from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $134.00 to $117.00 in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $119.75.

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.