Skandinaviska Enskilda Banken AB publ Has $9.50 Million Position in Bank Of Montreal (NYSE:BMO)

Skandinaviska Enskilda Banken AB publ grew its stake in shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 2.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 99,450 shares of the bank’s stock after buying 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 filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Dunhill Financial LLC acquired a new position in Bank Of Montreal in the fourth quarter worth about $39,000. CX Institutional acquired a new position in Bank Of Montreal in the first quarter worth about $42,000. HM Payson & Co. acquired a new position in Bank Of Montreal in the first quarter worth about $42,000. Wayfinding Financial LLC acquired a new position in Bank Of Montreal in the first quarter worth about $44,000. Finally, TruNorth Capital Management LLC raised its position in Bank Of Montreal by 405.0% in the first quarter. TruNorth Capital Management LLC now owns 505 shares of the bank’s stock worth $48,000 after purchasing an additional 405 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BMO. CIBC reissued a “neutral” rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. Cibc World Mkts lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Scotiabank started coverage on shares of Bank Of Montreal in a report on Thursday, May 15th. They set a “sector perform” rating for the company. Barclays lowered shares of Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a report on Monday, June 9th. Finally, Wall Street Zen lowered shares of Bank Of Montreal from a “hold” rating to a “sell” rating in a report on Friday, July 18th. One investment 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $129.50.

Bank Of Montreal Price Performance

Shares of BMO stock opened at $114.45 on Friday. Bank Of Montreal has a 12-month low of $76.98 and a 12-month high of $115.66. The firm has a market capitalization of $82.21 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.26 and a beta of 1.07. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average of $109.24 and a 200-day moving average of $101.65.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.84. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The company had revenue of $6.32 billion during the quarter, compared to analyst estimates of $8.79 billion. During the same quarter in the previous year, the business earned $2.59 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. On average, equities research analysts forecast that Bank Of Montreal will post 7.71 earnings per share for the current 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 issued a $1.1801 dividend. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date is Wednesday, July 30th. This represents a $4.72 annualized dividend and a dividend yield of 4.12%. Bank Of Montreal’s payout ratio is 57.33%.

Bank Of Montreal Company 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.