Bank Of Montreal $BMO is Rempart Asset Management Inc.’s 8th Largest Position

Rempart Asset Management Inc. decreased its position in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1.4% in the second quarter, HoldingsChannel reports. The firm owned 220,625 shares of the bank’s stock after selling 3,218 shares during the quarter. Bank Of Montreal accounts for 4.7% of Rempart Asset Management Inc.’s portfolio, making the stock its 8th biggest position. Rempart Asset Management Inc.’s holdings in Bank Of Montreal were worth $24,442,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Squarepoint Ops LLC lifted its position in Bank Of Montreal by 53.1% during the fourth quarter. Squarepoint Ops LLC now owns 5,454 shares of the bank’s stock valued at $529,000 after purchasing an additional 1,892 shares during the period. Wellington Management Group LLP raised its stake in shares of Bank Of Montreal by 29.4% during the 4th quarter. Wellington Management Group LLP now owns 162,503 shares of the bank’s stock valued at $15,768,000 after buying an additional 36,931 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Bank Of Montreal by 5,407.5% in the first quarter. Versant Capital Management Inc now owns 2,919 shares of the bank’s stock worth $279,000 after buying an additional 2,866 shares during the last quarter. GAMMA Investing LLC grew its holdings in Bank Of Montreal by 9,451.0% during the first quarter. GAMMA Investing LLC now owns 149,951 shares of the bank’s stock worth $14,322,000 after acquiring an additional 148,381 shares during the period. Finally, NBC Securities Inc. raised its position in Bank Of Montreal by 116,600.0% during the first quarter. NBC Securities Inc. now owns 3,501 shares of the bank’s stock valued at $334,000 after acquiring an additional 3,498 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

BMO has been the subject of several analyst reports. UBS Group reiterated a “neutral” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Cibc World Mkts upgraded shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Cowen restated a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Barclays cut Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a report on Monday, June 9th. Finally, Royal Bank Of Canada increased their price target on Bank Of Montreal from $161.00 to $168.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank Of Montreal presently has a consensus rating of “Moderate Buy” and an average price target of $168.00.

Bank Of Montreal Trading Up 0.9%

Shares of Bank Of Montreal stock opened at $130.58 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a twelve month low of $85.40 and a twelve month high of $131.26. The firm has a market capitalization of $93.35 billion, a PE ratio of 15.98, a P/E/G ratio of 1.33 and a beta of 1.04. The firm’s 50-day moving average price is $119.33 and its 200 day moving average price is $108.03.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its earnings results on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.21. The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.64 earnings per share. On average, sell-side analysts predict that Bank Of Montreal will post 7.71 EPS 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. Shareholders of record on Thursday, October 30th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Thursday, October 30th. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.18. Bank Of Montreal’s payout ratio is 58.63%.

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.