Beutel Goodman & Co Ltd. Purchases 704,197 Shares of Bank of Montreal (NYSE:BMO)

Beutel Goodman & Co Ltd. boosted its holdings in shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,616,614 shares of the bank's stock after acquiring an additional 704,197 shares during the period. Bank of Montreal accounts for about 3.5% of Beutel Goodman & Co Ltd.'s investment portfolio, making the stock its 3rd largest holding. Beutel Goodman & Co Ltd. owned about 0.91% of Bank of Montreal worth $642,016,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Bank of Montreal during the 4th quarter worth $1,014,633,000. Toronto Dominion Bank increased its holdings in shares of Bank of Montreal by 14.9% in the third quarter. Toronto Dominion Bank now owns 11,812,353 shares of the bank's stock worth $1,065,474,000 after purchasing an additional 1,534,508 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Bank of Montreal during the 4th quarter valued at approximately $760,000. FMR LLC grew its holdings in shares of Bank of Montreal by 14.2% in the third quarter. FMR LLC now owns 5,046,721 shares of the bank's stock valued at $455,397,000 after purchasing an additional 625,797 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Bank of Montreal by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 30,494,749 shares of the bank's stock worth $2,960,491,000 after buying an additional 576,744 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com raised Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Royal Bank of Canada lifted their target price on Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. CIBC raised shares of Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research note on Friday, December 6th. Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, December 6th. Finally, Scotiabank raised Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a research report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $128.40.

Bank of Montreal Stock Up 0.2 %

Shares of NYSE BMO traded up $0.21 during trading hours on Monday, hitting $95.48. 535,815 shares of the stock were exchanged, compared to its average volume of 850,590. The company has a market cap of $69.41 billion, a PE ratio of 13.68, a PEG ratio of 1.43 and a beta of 1.07. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $106.00. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average price of $99.30 and a 200-day moving average price of $95.97.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings data on Tuesday, February 25th. The bank reported $3.04 EPS for the quarter, beating the consensus estimate of $1.68 by $1.36. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The firm had revenue of $9.27 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the prior year, the business posted $2.56 EPS. The business's revenue for the quarter was up 20.8% compared to the same quarter last year. On average, sell-side analysts expect that Bank of Montreal will post 7.71 EPS for the current year.

Bank of Montreal Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be issued a dividend of $1.1094 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.44 annualized dividend and a dividend yield of 4.65%. Bank of Montreal's dividend payout ratio (DPR) is currently 57.09%.

Bank of Montreal Company 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.