Intech Investment Management LLC Purchases 24,044 Shares of Bank Of Montreal $BMO

Key Points

• Intech Investment Management LLC increased its stake in Bank of Montreal by 30%, now holding 104,254 shares worth approximately $9.95 million.
• The Bank of Montreal reported $2.33 earnings per share for the last quarter, exceeding analyst forecasts of $2.12, while also announcing a dividend increase to $1.63 per share.
• Goldman Sachs Group Inc. significantly boosted its stake in the bank by 213.1%, now owning over 4 million shares valued at approximately $406.8 million.

Intech Investment Management LLC increased its position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 30.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,254 shares of the bank's stock after acquiring an additional 24,044 shares during the period. Intech Investment Management LLC's holdings in Bank Of Montreal were worth $9,954,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Bayforest Capital Ltd acquired a new stake in Bank Of Montreal in the 1st quarter valued at about $34,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Bank Of Montreal by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,002,463 shares of the bank's stock valued at $95,745,000 after buying an additional 66,838 shares during the period. Ascent Group LLC purchased a new stake in shares of Bank Of Montreal in the first quarter valued at $254,000. United Services Automobile Association grew its position in Bank Of Montreal by 1.5% during the first quarter. United Services Automobile Association now owns 24,153 shares of the bank's stock valued at $2,304,000 after acquiring an additional 355 shares during the period. Finally, Jones Financial Companies Lllp grew its position in Bank Of Montreal by 121.7% during the first quarter. Jones Financial Companies Lllp now owns 17,363 shares of the bank's stock valued at $1,658,000 after acquiring an additional 9,530 shares during the period. Institutional investors and hedge funds own 45.82% of the company's stock.

Bank Of Montreal Stock Up 0.7%

BMO traded up $0.88 during trading on Tuesday, hitting $128.67. The company had a trading volume of 123,892 shares, compared to its average volume of 666,477. The firm's 50-day moving average price is $116.42 and its 200 day moving average price is $106.04. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a one year low of $85.40 and a one year high of $128.63. The company has a market capitalization of $92.17 billion, a PE ratio of 15.75, a PEG ratio of 1.29 and a beta of 1.04.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.21. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The company had revenue of $6.51 billion for the quarter, compared to analyst estimates of $8.84 billion. During the same period in the previous year, the business earned $2.64 EPS. Bank Of Montreal's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 5.1%. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.18. The ex-dividend date is Thursday, October 30th. Bank Of Montreal's dividend payout ratio is currently 57.53%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen cut Bank Of Montreal from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Scotiabank reaffirmed a "sector perform" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. CIBC upgraded Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday, September 5th. Barclays lowered Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. Finally, Cibc World Mkts raised Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Bank Of Montreal has an average rating of "Moderate Buy" and a consensus target price of $168.00.

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.