Skandinaviska Enskilda Banken AB publ Acquires 2,463 Shares of Bank Of Montreal (NYSE:BMO)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in Bank of Montreal (NYSE:BMO) by 2.5% in Q1, holding approximately $9.50 million worth of shares.
• Bank of Montreal declared a quarterly dividend of $1.1801, reflecting a positive increase from the previous dividend, with an annualized yield of 4.12%.
• Several analysts have downgraded their ratings on Bank of Montreal, with the consensus now at a "Hold" rating and a price target of $129.50.

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,450 shares of the bank's stock after purchasing an additional 2,463 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Bank Of Montreal were worth $9,498,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BMO. Dunhill Financial LLC acquired a new stake in Bank Of Montreal in the 4th quarter worth about $39,000. CX Institutional acquired a new position in shares of Bank Of Montreal in the 1st quarter valued at about $42,000. HM Payson & Co. acquired a new position in shares of Bank Of Montreal in the 1st quarter valued at about $42,000. Wayfinding Financial LLC acquired a new position in shares of Bank Of Montreal in the 1st quarter valued at about $44,000. Finally, TruNorth Capital Management LLC lifted its stake in shares of Bank Of Montreal by 405.0% in the 1st quarter. TruNorth Capital Management LLC now owns 505 shares of the bank's stock valued at $48,000 after purchasing an additional 405 shares in the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on BMO. CIBC reissued a "neutral" rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. Scotiabank initiated coverage on Bank Of Montreal in a report on Thursday, May 15th. They set a "sector perform" rating on the stock. Wall Street Zen downgraded Bank Of Montreal from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Barclays downgraded Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. Finally, Cibc World Mkts downgraded Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Bank Of Montreal has a consensus rating of "Hold" and an average target price of $129.50.

Bank Of Montreal Price Performance

Shares of Bank Of Montreal stock traded down $0.41 during trading on Wednesday, hitting $111.69. The stock had a trading volume of 133,856 shares, compared to its average volume of 677,109. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $80.24 billion, a P/E ratio of 14.48, a PEG ratio of 1.25 and a beta of 1.07. The business has a fifty day moving average of $109.63 and a two-hundred day moving average of $101.86. Bank Of Montreal has a fifty-two week low of $76.98 and a fifty-two week high of $115.66.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, meeting the consensus estimate of $1.84. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $8.79 billion. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. Bank Of Montreal's quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.59 earnings per share. On average, sell-side analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $1.1801 per share. The ex-dividend date is Wednesday, July 30th. This is an increase from Bank Of Montreal's previous quarterly dividend of $1.11. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.23%. Bank Of Montreal's dividend payout ratio (DPR) is 57.33%.

About Bank Of Montreal

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.