Bank Of Montreal $BMO Shares Purchased by Intech Investment Management LLC

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 boosted its holdings in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 30.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 104,254 shares of the bank's stock after purchasing an additional 24,044 shares during the period. Intech Investment Management LLC's holdings in Bank Of Montreal were worth $9,954,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Goldman Sachs Group Inc. boosted its stake in shares of Bank Of Montreal by 213.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank's stock worth $406,825,000 after buying an additional 2,899,061 shares during the period. Mackenzie Financial Corp raised its stake in Bank Of Montreal by 15.4% during the 4th quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank's stock valued at $1,184,636,000 after acquiring an additional 1,630,962 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Bank Of Montreal by 66.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank's stock worth $351,154,000 after acquiring an additional 1,469,084 shares during the period. Toronto Dominion Bank grew its stake in shares of Bank Of Montreal by 8.6% in the 4th quarter. Toronto Dominion Bank now owns 12,833,065 shares of the bank's stock valued at $1,244,284,000 after purchasing an additional 1,020,712 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Bank Of Montreal in the 1st quarter valued at approximately $52,070,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Stock Down 0.1%

BMO stock opened at $126.34 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The company's 50-day moving average price is $115.58 and its 200 day moving average price is $105.49. Bank Of Montreal has a 52 week low of $82.69 and a 52 week high of $127.29. The company has a market cap of $90.50 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.29 and a beta of 1.04.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.21. The company had revenue of $6.51 billion during the quarter, compared to analysts' expectations of $8.84 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $2.64 earnings per share. On average, research analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be issued a dividend of $1.63 per share. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.18. This represents a $6.52 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Thursday, October 30th. Bank Of Montreal's payout ratio is presently 58.63%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. CIBC raised Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, September 5th. Cibc World Mkts upgraded shares of Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. UBS Group reaffirmed a "neutral" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Cowen reissued a "hold" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Finally, National Bankshares restated an "outperform" rating on shares of Bank Of Montreal in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $168.00.

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.

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