Bank of Montreal (NYSE:BMO) is Intact Investment Management Inc.'s 5th Largest Position

Intact Investment Management Inc. lifted its stake in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 12.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 726,141 shares of the bank's stock after purchasing an additional 82,900 shares during the period. Bank of Montreal accounts for 2.9% of Intact Investment Management Inc.'s holdings, making the stock its 5th biggest position. Intact Investment Management Inc. owned about 0.10% of Bank of Montreal worth $71,852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in BMO. Bank of Nova Scotia raised its stake in shares of Bank of Montreal by 10.6% during the 3rd quarter. Bank of Nova Scotia now owns 14,783,968 shares of the bank's stock worth $1,247,154,000 after purchasing an additional 1,417,298 shares in the last quarter. Mackenzie Financial Corp raised its stake in Bank of Montreal by 5.4% in the 4th quarter. Mackenzie Financial Corp now owns 14,495,589 shares of the bank's stock valued at $1,435,002,000 after acquiring an additional 738,579 shares during the period. Toronto Dominion Bank raised its stake in Bank of Montreal by 5.1% in the 3rd quarter. Toronto Dominion Bank now owns 14,042,593 shares of the bank's stock valued at $1,184,774,000 after acquiring an additional 679,340 shares during the period. Vanguard Group Inc. raised its stake in Bank of Montreal by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 27,191,193 shares of the bank's stock valued at $2,294,121,000 after acquiring an additional 468,761 shares during the period. Finally, FMR LLC raised its stake in Bank of Montreal by 10.1% in the 3rd quarter. FMR LLC now owns 3,297,129 shares of the bank's stock valued at $278,141,000 after acquiring an additional 301,391 shares during the period. Institutional investors own 45.82% of the company's stock.

Wall Street Analyst Weigh In

BMO has been the topic of a number of research analyst reports. StockNews.com upgraded Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Sunday, March 3rd. Jefferies Financial Group initiated coverage on Bank of Montreal in a research note on Thursday, February 22nd. They issued a "buy" rating on the stock. Finally, Barclays initiated coverage on Bank of Montreal in a report on Wednesday, March 20th. They issued an "overweight" rating on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $131.00.

Bank of Montreal Stock Performance

NYSE BMO traded down $0.70 on Friday, reaching $90.91. The stock had a trading volume of 3,961,611 shares, compared to its average volume of 705,343. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a fifty day moving average of $94.16 and a two-hundred day moving average of $90.22. Bank of Montreal has a 1-year low of $73.98 and a 1-year high of $100.12. The company has a market cap of $66.30 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 1.78 and a beta of 1.13.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its earnings results on Tuesday, February 27th. The bank reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.34). The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $6.34 billion. Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. On average, equities research analysts anticipate that Bank of Montreal will post 8.94 EPS for the current year.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be issued a dividend of $1.1172 per share. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.11. This represents a $4.47 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend is Friday, April 26th. Bank of Montreal's dividend payout ratio is 62.02%.

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.