SEB Asset Management AB Makes New Investment in Bank Of Montreal $BMO

SEB Asset Management AB purchased a new stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) in the first quarter, HoldingsChannel reports. The firm purchased 174,150 shares of the bank’s stock, valued at approximately $23,513,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. WFA of San Diego LLC acquired a new position in shares of Bank Of Montreal in the 2nd quarter worth approximately $28,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Bank Of Montreal in the 4th quarter valued at approximately $29,000. Larson Financial Group LLC increased its holdings in Bank Of Montreal by 466.7% in the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after purchasing an additional 196 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Bank Of Montreal in the fourth quarter valued at approximately $34,000. Finally, Swiss RE Ltd. purchased a new stake in Bank Of Montreal in the fourth quarter valued at approximately $38,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Price Performance

Bank Of Montreal stock opened at $182.19 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 52-week low of $109.64 and a 52-week high of $184.21. The firm has a market cap of $127.61 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 1.02 and a beta of 0.93. The company’s 50 day moving average is $167.94 and its two-hundred day moving average is $150.52.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, topping the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The business had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter in the previous year, the firm posted $2.62 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts expect that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 3.8%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is 50.96%.

Wall Street Analyst Weigh In

A number of research firms have commented on BMO. Barclays restated an “underweight” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Desjardins reiterated a “hold” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, May 12th. Finally, Weiss Ratings raised Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, July 8th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.