Keudell Morrison Wealth Management Makes New $336,000 Investment in Bank of Montreal (NYSE:BMO)

Keudell Morrison Wealth Management bought a new stake in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,461 shares of the bank's stock, valued at approximately $336,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BMO. Strategic Investment Solutions Inc. IL acquired a new stake in Bank of Montreal in the second quarter valued at $34,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bank of Montreal in the third quarter valued at about $45,000. GHP Investment Advisors Inc. boosted its holdings 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 buying an additional 393 shares in the last quarter. Blue Trust Inc. grew its position in Bank of Montreal by 207.8% during the third quarter. Blue Trust Inc. now owns 668 shares of the bank's stock worth $56,000 after buying an additional 451 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in 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 buying an additional 219 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Bank of Montreal Trading Up 0.0 %

Shares of BMO stock traded up $0.01 during trading hours on Tuesday, hitting $97.55. 446,352 shares of the company were exchanged, compared to its average volume of 583,819. The firm has a fifty day moving average of $98.04 and a 200 day moving average of $91.85. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $104.63. The firm has a market cap of $71.21 billion, a PE ratio of 13.98, a PEG ratio of 1.39 and a beta of 1.09.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be issued a $1.1329 dividend. This represents a $4.53 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Thursday, January 30th. This is a positive change from Bank of Montreal's previous quarterly dividend of $1.12. Bank of Montreal's dividend payout ratio (DPR) is 63.32%.

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.