Beutel Goodman & Co Ltd. Has $637.92 Million Stake in Bank Of Montreal $BMO

Beutel Goodman & Co Ltd. decreased its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,767,972 shares of the bank’s stock after selling 204,686 shares during the quarter. Bank Of Montreal comprises approximately 3.6% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 3rd biggest holding. Beutel Goodman & Co Ltd. owned approximately 0.80% of Bank Of Montreal worth $637,921,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC raised its stake in shares of Bank Of Montreal by 228.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock valued at $26,000 after purchasing an additional 190 shares during the period. Bayforest Capital Ltd bought a new position in Bank Of Montreal in the 1st quarter worth about $34,000. Truvestments Capital LLC purchased a new position in Bank Of Montreal during the 1st quarter valued at about $39,000. Harbor Asset Planning Inc. bought a new stake in shares of Bank Of Montreal during the second quarter valued at about $39,000. Finally, Princeton Global Asset Management LLC lifted its holdings in shares of Bank Of Montreal by 40.0% in the second quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank’s stock worth $39,000 after buying an additional 100 shares in the last quarter. 45.82% of the stock is owned by institutional investors.

Bank Of Montreal Stock Down 0.1%

Shares of BMO opened at $126.66 on Friday. Bank Of Montreal has a 1 year low of $85.40 and a 1 year high of $131.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a 50 day simple moving average of $125.65 and a two-hundred day simple moving average of $118.11. The firm has a market cap of $90.14 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.84 and a beta of 0.95.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be given a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Friday, January 30th. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s dividend payout ratio is 57.28%.

Analysts Set New Price Targets

Several brokerages recently commented on BMO. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. CIBC upgraded shares of Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, September 5th. UBS Group reaffirmed a “neutral” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Cibc World Mkts upgraded Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Finally, Cowen restated a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $163.00.

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.