Sei Investments Co. raised its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 6,400.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,015 shares of the bank’s stock after buying an additional 1,984 shares during the period. Sei Investments Co.’s holdings in Bank of Montreal were worth $174,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of BMO. Public Sector Pension investment Board raised its stake in Bank of Montreal by 13,359.7% in the second quarter. Public Sector Pension investment Board now owns 1,291,596 shares of the bank’s stock valued at $94,699,000 after buying an additional 1,282,000 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Bank of Montreal by 123.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,405,000 shares of the bank’s stock valued at $103,154,000 after buying an additional 776,318 shares in the last quarter. Scotia Capital Inc. raised its stake in Bank of Montreal by 50.2% in the second quarter. Scotia Capital Inc. now owns 2,271,198 shares of the bank’s stock valued at $166,780,000 after buying an additional 758,940 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Bank of Montreal by 5.4% during the second quarter. Vanguard Group Inc. now owns 14,592,498 shares of the bank’s stock worth $1,071,673,000 after purchasing an additional 748,173 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp increased its position in shares of Bank of Montreal by 22.9% during the second quarter. OMERS ADMINISTRATION Corp now owns 2,879,097 shares of the bank’s stock worth $211,094,000 after purchasing an additional 535,600 shares in the last quarter. Institutional investors own 42.78% of the company’s stock.
BMO has been the topic of a number of research analyst reports. BidaskClub upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Canaccord Genuity set a $102.00 price target on Bank of Montreal and gave the stock a “hold” rating in a report on Tuesday, August 29th. Scotiabank reissued a “buy” rating and set a $101.00 price target on shares of Bank of Montreal in a report on Wednesday, August 30th. Macquarie assumed coverage on Bank of Montreal in a report on Tuesday, October 24th. They set a “neutral” rating and a $81.00 price target on the stock. Finally, Zacks Investment Research lowered Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $98.20.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 1st will be paid a dividend of $0.733 per share. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.72. The ex-dividend date is Wednesday, January 31st. This represents a $2.93 annualized dividend and a dividend yield of 3.75%. Bank of Montreal’s payout ratio is 46.45%.
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About Bank of Montreal
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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