Bank of Montreal (NYSE:BMO) is Rempart Asset Management Inc.’s 10th Largest Position

Rempart Asset Management Inc. grew its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 225,823 shares of the bank’s stock after acquiring an additional 1,380 shares during the quarter. Bank of Montreal comprises about 4.4% of Rempart Asset Management Inc.’s portfolio, making the stock its 10th biggest position. Rempart Asset Management Inc.’s holdings in Bank of Montreal were worth $21,874,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank grew its holdings in 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. 1832 Asset Management L.P. lifted its stake in shares of Bank of Montreal by 6.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 7,312,320 shares of the bank’s stock valued at $613,138,000 after purchasing an additional 463,924 shares during the period. JARISLOWSKY FRASER Ltd boosted its holdings in Bank of Montreal by 36.9% during the second quarter. JARISLOWSKY FRASER Ltd now owns 5,239,662 shares of the bank’s stock worth $439,705,000 after buying an additional 1,412,532 shares in the last quarter. FMR LLC grew its position in Bank of Montreal by 14.2% during the third quarter. FMR LLC now owns 5,046,721 shares of the bank’s stock valued at $455,397,000 after buying an additional 625,797 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Bank of Montreal by 138.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,851,629 shares of the bank’s stock valued at $407,282,000 after buying an additional 2,816,385 shares in the last quarter. 45.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BMO has been the topic of a number of analyst reports. Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. StockNews.com lowered Bank of Montreal from a “hold” rating to a “sell” rating in a report on Tuesday, December 17th. Royal Bank of Canada raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research note on Wednesday. Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. Finally, CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $122.40.

Bank of Montreal Price Performance

Shares of Bank of Montreal stock traded up $1.29 on Wednesday, hitting $98.16. 151,370 shares of the company were exchanged, compared to its average volume of 428,285. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $104.63. 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 stock has a market capitalization of $71.62 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09. The company has a 50-day moving average price of $95.71 and a 200 day moving average price of $89.96.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be paid a $1.1329 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.62%. Bank of Montreal’s dividend payout ratio (DPR) is 67.34%.

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.