Bank of Montreal (NYSE:BMO) Sees Strong Trading Volume – Still a Buy?

Bank of Montreal (NYSE:BMO) (TSE:BMO) saw unusually-strong trading volume on Tuesday . Approximately 2,664,265 shares changed hands during trading, an increase of 472% from the previous session’s volume of 465,956 shares.The stock last traded at $100.29 and had previously closed at $100.87.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BMO shares. Cibc World Mkts raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Royal Bank of Canada raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $133.00 to $161.00 in a report on Wednesday, January 8th. Scotiabank raised Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, December 6th. StockNews.com lowered shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Tuesday, December 17th. Finally, CIBC upgraded shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Bank of Montreal presently has a consensus rating of “Hold” and an average price target of $128.00.

Bank of Montreal Stock Performance

The firm has a market cap of $73.33 billion, a PE ratio of 14.39, a PEG ratio of 1.41 and a beta of 1.09. The firm’s 50 day moving average price is $97.55 and its two-hundred day moving average price is $91.41. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be issued a $1.1329 dividend. The ex-dividend date is Thursday, January 30th. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.51%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. Bank of Montreal’s dividend payout ratio is presently 65.62%.

Hedge Funds Weigh In On Bank of Montreal

Institutional investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new position in Bank of Montreal during the 2nd quarter worth approximately $34,000. Wilmington Savings Fund Society FSB acquired a new stake in Bank of Montreal in the third quarter valued at $45,000. GHP Investment Advisors Inc. raised its position in Bank of Montreal by 244.1% during the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after acquiring an additional 393 shares during the last quarter. Blue Trust Inc. lifted its stake in Bank of Montreal by 207.8% in the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock valued at $56,000 after buying an additional 451 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Bank of Montreal by 47.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 680 shares of the bank’s stock valued at $66,000 after acquiring an additional 219 shares in the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

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.