Bank Of Montreal (NYSE:BMO) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Bank of Montreal experienced a 266% increase in trading volume with 2,422,259 shares traded, despite a slight decline in stock price to $113.14.
• Analysts have issued a mix of ratings, with one "buy" rating, seven "hold" ratings, and one "sell" rating, resulting in an average target price of $129.50.
• The bank announced a quarterly dividend of $1.1801, marking an increase from the previous dividend of $1.11, providing a year yield of 4.17%.

Shares of Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO saw strong trading volume on Tuesday . 2,422,259 shares traded hands during mid-day trading, an increase of 266% from the previous session's volume of 661,628 shares.The stock last traded at $113.14 and had previously closed at $113.34.

Analysts Set New Price Targets

BMO has been the subject of several research analyst reports. Scotiabank started coverage on Bank Of Montreal in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. CIBC restated a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Wall Street Zen cut shares of Bank Of Montreal from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Cibc World Mkts lowered Bank Of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. One research 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. Based on data from MarketBeat.com, Bank Of Montreal currently has an average rating of "Hold" and an average target price of $129.50.

Bank Of Montreal Price Performance

The company's 50 day moving average price is $109.44 and its 200 day moving average price is $101.78. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $81.25 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 1.26 and a beta of 1.07.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.84. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%. The business had revenue of $6.32 billion during the quarter, compared to analysts' expectations of $8.79 billion. During the same period in the previous year, the business posted $2.59 earnings per share. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be paid a $1.1801 dividend. This represents a $4.72 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Wednesday, July 30th. This is a positive change from Bank Of Montreal's previous quarterly dividend of $1.11. Bank Of Montreal's dividend payout ratio (DPR) is 62.13%.

Institutional Investors Weigh In On Bank Of Montreal

Institutional investors have recently made changes to their positions in the stock. Ascent Group LLC grew its holdings in shares of Bank Of Montreal by 3.5% in the 2nd quarter. Ascent Group LLC now owns 2,756 shares of the bank's stock valued at $305,000 after buying an additional 92 shares during the period. North Star Asset Management Inc. increased its stake in Bank Of Montreal by 1.2% during the 4th quarter. North Star Asset Management Inc. now owns 8,422 shares of the bank's stock worth $817,000 after purchasing an additional 100 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Bank Of Montreal by 2.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,717 shares of the bank's stock worth $451,000 after buying an additional 120 shares during the period. Wealth Alliance LLC raised its holdings in Bank Of Montreal by 1.8% during the 1st quarter. Wealth Alliance LLC now owns 8,146 shares of the bank's stock worth $778,000 after buying an additional 142 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in Bank Of Montreal by 0.7% in the second quarter. TD Private Client Wealth LLC now owns 23,986 shares of the bank's stock valued at $2,654,000 after buying an additional 169 shares in the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

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.

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