International Assets Investment Management LLC Invests $760,000 in Bank of Montreal (NYSE:BMO)

International Assets Investment Management LLC purchased a new position in Bank of Montreal (NYSE:BMO) (TSE:BMO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 740,236 shares of the bank’s stock, valued at approximately $760,000. International Assets Investment Management LLC owned approximately 0.10% of Bank of Montreal at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in shares of Bank of Montreal by 42,247.6% in the second quarter. Acadian Asset Management LLC now owns 17,786 shares of the bank’s stock worth $1,490,000 after buying an additional 17,744 shares in the last quarter. Caprock Group LLC bought a new position in Bank of Montreal in the 2nd quarter valued at approximately $235,000. American Century Companies Inc. boosted its stake in Bank of Montreal by 23.6% during the 2nd quarter. American Century Companies Inc. now owns 164,531 shares of the bank’s stock valued at $13,810,000 after purchasing an additional 31,374 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Bank of Montreal by 5.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 152,263 shares of the bank’s stock worth $12,635,000 after purchasing an additional 7,356 shares in the last quarter. Finally, Wealthspire Advisors LLC purchased a new position in shares of Bank of Montreal in the second quarter worth $522,000. Institutional investors own 45.82% of the company’s stock.

Bank of Montreal Price Performance

Shares of Bank of Montreal stock opened at $98.43 on Friday. The stock has a market cap of $71.82 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.42 and a beta of 1.09. The stock’s fifty day moving average is $95.99 and its 200 day moving average is $90.08. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. Bank of Montreal has a one year low of $76.98 and a one year high of $104.63.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be issued a $1.1329 dividend. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.60%. Bank of Montreal’s dividend payout ratio (DPR) is presently 67.34%.

Analysts Set New Price Targets

BMO has been the subject of several research analyst reports. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. CIBC upgraded shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Royal Bank of Canada upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $133.00 to $161.00 in a research note on Wednesday. Finally, StockNews.com downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Bank of Montreal currently has an average rating of “Hold” and an average price target of $128.00.

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.