Beutel Goodman & Co Ltd. Sells 224,222 Shares of Bank Of Montreal $BMO

Beutel Goodman & Co Ltd. cut its holdings in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 8.3% during the third quarter, HoldingsChannel.com reports. The fund owned 2,471,372 shares of the bank’s stock after selling 224,222 shares during the quarter. Bank Of Montreal makes up 3.3% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 2nd largest position. Beutel Goodman & Co Ltd.’s holdings in Bank Of Montreal were worth $414,236,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AlphaCore Capital LLC boosted its stake in Bank Of Montreal by 10.8% during the 3rd quarter. AlphaCore Capital LLC now owns 1,953 shares of the bank’s stock worth $327,000 after purchasing an additional 190 shares during the period. Fulcrum Asset Management LLP purchased a new position in Bank Of Montreal during the 3rd quarter worth $57,000. Ethic Inc. grew its position in Bank Of Montreal by 10.7% during the 3rd quarter. Ethic Inc. now owns 30,199 shares of the bank’s stock worth $5,051,000 after purchasing an additional 2,918 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Bank Of Montreal by 15.2% in the third quarter. Pictet Asset Management Holding SA now owns 418,389 shares of the bank’s stock valued at $70,128,000 after purchasing an additional 55,318 shares during the period. Finally, Leelyn Smith LLC acquired a new position in Bank Of Montreal in the third quarter valued at $206,000. 45.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BMO shares. Barclays reaffirmed an “underweight” rating on shares of Bank Of Montreal in a report on Friday, August 21st. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a report on Wednesday, August 12th. Weiss Ratings cut Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, October 14th. Keefe, Bruyette & Woods initiated coverage on Bank Of Montreal in a research report on Friday, August 21st. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Thursday, August 27th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bank Of Montreal has a consensus rating of “Hold” and a consensus price target of $244.00.

Bank Of Montreal Price Performance

Shares of NYSE BMO opened at $174.01 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a fifty day moving average price of $170.47 and a 200 day moving average price of $161.03. Bank Of Montreal has a 1-year low of $119.84 and a 1-year high of $187.22. The company has a market cap of $120.36 billion, a PE ratio of 19.64, a P/E/G ratio of 0.95 and a beta of 0.93.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Tuesday, August 25th. The bank reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.13. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.94 billion. Bank Of Montreal had a net margin of 11.72% and a return on equity of 13.60%. Bank Of Montreal’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm posted $3.23 EPS. Sell-side analysts forecast that Bank Of Montreal will post 10.65 EPS for the current year.

Bank Of Montreal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 26th. Stockholders of record on Friday, October 30th will be paid a C$1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, October 30th. Bank Of Montreal’s dividend payout ratio (DPR) is 54.18%.

Bank Of Montreal Company Profile

Bank of Montreal, commonly known as BMO Financial Group, is a diversified financial services company serving individuals, businesses, and institutions. Its offerings include personal and commercial banking, such as deposit accounts, loans, mortgages, credit cards, and business banking services.

BMO also provides wealth management and investment services, including financial advice, investment management, and private banking. Through its capital markets business, the company serves corporate, government, and institutional clients with services such as corporate banking, investment banking, and trading.

Founded in Montreal in 1817, BMO is one of Canada’s oldest banks.