Intact Investment Management Inc. Has $27.80 Million Stock Holdings in Bank Of Montreal (NYSE:BMO)

Intact Investment Management Inc. lessened its holdings in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 63.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 291,070 shares of the bank's stock after selling 506,390 shares during the period. Bank Of Montreal accounts for 1.0% of Intact Investment Management Inc.'s portfolio, making the stock its 27th largest position. Intact Investment Management Inc.'s holdings in Bank Of Montreal were worth $27,799,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Bank Of Montreal by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 30,494,749 shares of the bank's stock worth $2,960,491,000 after acquiring an additional 576,744 shares during the period. TD Asset Management Inc. grew its holdings in shares of Bank Of Montreal by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 17,615,141 shares of the bank's stock valued at $1,709,215,000 after buying an additional 486,984 shares during the period. Toronto Dominion Bank grew its holdings 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 buying an additional 1,020,712 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Bank Of Montreal by 15.4% in the 4th quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank's stock valued at $1,184,636,000 after buying an additional 1,630,962 shares during the period. Finally, Norges Bank acquired a new position in shares of Bank Of Montreal in the 4th quarter valued at $1,014,633,000. Institutional investors and hedge funds own 45.82% of the company's stock.

Bank Of Montreal Price Performance

Shares of NYSE BMO opened at $105.07 on Friday. The firm has a market cap of $75.87 billion, a PE ratio of 13.63, a PEG ratio of 1.17 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.12. Bank Of Montreal has a 1-year low of $76.98 and a 1-year high of $109.10. The company has a fifty day moving average price of $101.54 and a 200 day moving average price of $99.16.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, hitting analysts' consensus estimates of $1.84. The firm had revenue of $6.32 billion during the quarter, compared to analyst estimates of $8.79 billion. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.59 EPS. Research analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be given a dividend of $1.1801 per share. The ex-dividend date is Wednesday, July 30th. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 annualized dividend and a yield of 4.49%. Bank Of Montreal's payout ratio is 57.33%.

Analyst Upgrades and Downgrades

BMO has been the subject of several research analyst reports. Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. Wall Street Zen raised shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Scotiabank initiated coverage on shares of Bank Of Montreal in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. Cibc World Mkts lowered shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Royal Bank Of Canada boosted their price target 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. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $129.50.

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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