Bank of Montreal (NYSE:BMO) Sees Strong Trading Volume – Here’s Why

Bank of Montreal (NYSE:BMO) (TSE:BMO) shares saw an uptick in trading volume on Tuesday . 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

Several research analysts have weighed in on the company. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. StockNews.com cut Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Tuesday, December 17th. Scotiabank upgraded shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, December 6th. Royal Bank of Canada upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $133.00 to $161.00 in a research note on Wednesday, January 8th. Finally, CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $128.00.

Bank of Montreal Price Performance

The company has a market capitalization of $73.33 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.41 and a beta of 1.09. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average is $97.55 and its 200-day moving average is $91.41.

Bank of Montreal Increases Dividend

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

Institutional Investors Weigh In On Bank of Montreal

Institutional investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC boosted its position in shares of Bank of Montreal by 2,701.7% during the third quarter. Pathway Financial Advisers LLC now owns 30,454 shares of the bank’s stock valued at $2,747,000 after purchasing an additional 29,367 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Bank of Montreal by 80.0% in the third quarter. Wellington Management Group LLP now owns 125,572 shares of the bank’s stock worth $11,344,000 after purchasing an additional 55,823 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in shares of Bank of Montreal by 72.9% during the third quarter. Intact Investment Management Inc. now owns 588,209 shares of the bank’s stock valued at $53,082,000 after purchasing an additional 248,098 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Bank of Montreal by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 3,327,465 shares of the bank’s stock valued at $300,137,000 after buying an additional 144,252 shares during the last quarter. Finally, Cardinal Capital Management Inc. increased its holdings in Bank of Montreal by 4.9% in the 3rd quarter. Cardinal Capital Management Inc. now owns 1,298,627 shares of the bank’s stock worth $117,326,000 after buying an additional 60,155 shares in the last quarter. Hedge funds and other institutional investors own 45.82% of the company’s stock.

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.