Rempart Asset Management Inc. Has $24.44 Million Stock Position in Bank Of Montreal $BMO

Key Points

• Rempart Asset Management Inc. reduced its stake in Bank Of Montreal by 1.4%, holding 220,625 shares valued at approximately $24.44 million, making it the fund's 8th largest position.
• Bank Of Montreal announced an increase in its quarterly dividend to $1.63 per share, representing a yield of 5.0%, up from the previous $1.18 dividend.
• Analysts have mixed reviews on Bank Of Montreal, with price targets raised to $168.00, and ratings ranging from "Strong Buy" to "Sell," indicating differing expectations on stock performance.

Rempart Asset Management Inc. reduced its stake in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 220,625 shares of the bank's stock after selling 3,218 shares during the quarter. Bank Of Montreal comprises about 4.7% of Rempart Asset Management Inc.'s investment portfolio, making the stock its 8th biggest position. Rempart Asset Management Inc.'s holdings in Bank Of Montreal were worth $24,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Squarepoint Ops LLC increased its position in shares of Bank Of Montreal by 53.1% during the 4th 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 last quarter. Wellington Management Group LLP boosted its stake in Bank Of Montreal by 29.4% during the fourth quarter. Wellington Management Group LLP now owns 162,503 shares of the bank's stock worth $15,768,000 after buying an additional 36,931 shares during the period. Versant Capital Management Inc increased its position in Bank Of Montreal by 5,407.5% during the first quarter. Versant Capital Management Inc now owns 2,919 shares of the bank's stock valued at $279,000 after acquiring an additional 2,866 shares during the last quarter. GAMMA Investing LLC increased its position 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 valued at $14,322,000 after acquiring an additional 148,381 shares during the last quarter. Finally, NBC Securities Inc. raised its stake in shares of Bank Of Montreal by 116,600.0% in 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 during the period. 45.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BMO shares. Royal Bank Of Canada lifted their price target on shares of Bank Of Montreal from $161.00 to $168.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. Wall Street Zen downgraded shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. CIBC raised Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, September 5th. National Bankshares reiterated an "outperform" rating on shares of Bank Of Montreal in a report on Friday, August 15th. Finally, Cibc World Mkts upgraded Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $168.00.

Bank Of Montreal Trading Up 0.9%

Shares of NYSE:BMO opened at $130.58 on Monday. The company 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 company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The business's fifty day simple moving average is $119.33 and its 200-day simple moving average is $108.03. Bank Of Montreal has a 12-month low of $85.40 and a 12-month high of $131.26.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings results on Tuesday, August 26th. The bank reported $2.33 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.21. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. The business had revenue of $6.51 billion for the quarter, compared to analysts' expectations of $8.84 billion. During the same period last year, the business earned $2.64 EPS. The company's revenue was up 9.7% compared to the same quarter last year. As a group, equities 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 announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $6.52 annualized dividend and a yield of 5.0%. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.18. Bank Of Montreal's dividend payout ratio is currently 58.63%.

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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