SEB Asset Management AB Invests $23.51 Million in Bank Of Montreal $BMO

Key Points

• SEB Asset Management AB opened a new position in Bank of Montreal during the first quarter, buying 174,150 shares valued at about $23.5 million.
• Other major institutional investors also increased or initiated stakes in BMO, and hedge funds and other institutions now own 45.82% of the company.
• Bank of Montreal recently beat earnings and revenue estimates for its latest quarter and raised its quarterly dividend to $1.71 per share, lifting the annualized yield to about 3.8%.

SEB Asset Management AB purchased a new position in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 174,150 shares of the bank's stock, valued at approximately $23,513,000.

Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in Bank Of Montreal in the 4th quarter worth approximately $1,059,320,000. Morgan Stanley boosted its holdings in shares of Bank Of Montreal by 74.4% during the 4th quarter. Morgan Stanley now owns 3,817,406 shares of the bank's stock worth $495,461,000 after purchasing an additional 1,628,318 shares during the last quarter. UBS Group AG grew its position in shares of Bank Of Montreal by 155.3% in the third quarter. UBS Group AG now owns 2,127,377 shares of the bank's stock valued at $277,091,000 after purchasing an additional 1,294,169 shares in the last quarter. FIL Ltd grew its position in shares of Bank Of Montreal by 15.2% in the fourth quarter. FIL Ltd now owns 9,445,162 shares of the bank's stock valued at $1,226,622,000 after purchasing an additional 1,245,500 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new stake in shares of Bank Of Montreal in the fourth quarter valued at approximately $129,909,000. Hedge funds and other institutional investors own 45.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BMO. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Scotiabank restated an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Zacks Research downgraded Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. TD Securities reiterated a "buy" rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Bank Of Montreal presently has an average rating of "Hold" and a consensus price target of $163.00.

Bank Of Montreal Stock Up 0.1%

Shares of NYSE BMO opened at $182.19 on Monday. The company has a market capitalization of $127.61 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.02 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50 day simple moving average of $167.94 and a 200-day simple moving average of $150.52. Bank Of Montreal has a 1 year low of $109.64 and a 1 year high of $184.21.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 EPS for the quarter, beating analysts' consensus estimates of $2.54 by $0.14. The firm had revenue of $7.04 billion for the quarter, compared to analysts' expectations of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.62 earnings per share. On average, equities research analysts predict that Bank Of Montreal will post 11.82 earnings per share for the current year.

Bank Of Montreal Increases Dividend

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

Bank Of Montreal 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.

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