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

Intact Investment Management Inc. trimmed its position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 63.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 291,070 shares of the bank's stock after selling 506,390 shares during the period. Bank Of Montreal accounts for approximately 1.0% of Intact Investment Management Inc.'s investment portfolio, making the stock its 27th biggest position. Intact Investment Management Inc.'s holdings in Bank Of Montreal were worth $27,799,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of 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 stake in 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 last quarter. Toronto Dominion Bank boosted its holdings in shares of Bank Of Montreal by 8.6% during the fourth quarter. Toronto Dominion Bank now owns 12,833,065 shares of the bank's stock worth $1,244,284,000 after acquiring an additional 1,020,712 shares during the period. Mackenzie Financial Corp grew its position in shares of Bank Of Montreal by 15.4% in the fourth quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank's stock valued at $1,184,636,000 after purchasing an additional 1,630,962 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Bank Of Montreal during the fourth quarter worth approximately $1,014,633,000. 45.82% of the stock is owned by institutional investors.

Bank Of Montreal Price Performance

Bank Of Montreal stock traded up $1.37 during mid-day trading on Tuesday, reaching $106.69. The company had a trading volume of 488,142 shares, compared to its average volume of 825,828. 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 fifty-two week low of $76.98 and a fifty-two week high of $109.10. The company has a market cap of $77.04 billion, a P/E ratio of 13.84, a P/E/G ratio of 1.16 and a beta of 1.08. The business has a fifty day simple moving average of $101.80 and a 200 day simple moving average of $99.19.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.84. The firm had revenue of $6.32 billion during the quarter, compared to analysts' expectations 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 was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.59 EPS. On average, equities research analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current year.

Bank Of Montreal Increases Dividend

The company 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 of this dividend is Wednesday, July 30th. This represents a $4.72 dividend on an annualized basis and a yield of 4.42%. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's dividend payout ratio is 57.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BMO shares. Wall Street Zen raised Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Barclays downgraded Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Royal Bank Of Canada lifted their price objective on Bank Of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Scotiabank initiated coverage on Bank Of Montreal in a research report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Finally, Cibc World Mkts cut shares of Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $129.50.

Bank Of Montreal 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.