Keudell Morrison Wealth Management Purchases Shares of 3,461 Bank of Montreal (NYSE:BMO)

Keudell Morrison Wealth Management acquired a new position in Bank of Montreal (NYSE:BMO) (TSE:BMO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,461 shares of the bank’s stock, valued at approximately $336,000.

Several other large investors also recently added to or reduced their stakes in BMO. Union Bancaire Privee UBP SA bought a new stake in shares of Bank of Montreal during the 4th quarter valued at $3,220,000. Blue Trust Inc. grew its holdings in Bank of Montreal by 55.2% during the fourth quarter. Blue Trust Inc. now owns 1,037 shares of the bank’s stock valued at $94,000 after purchasing an additional 369 shares during the period. Kingswood Wealth Advisors LLC purchased a new stake in Bank of Montreal in the fourth quarter worth about $220,000. First Citizens Bank & Trust Co. purchased a new stake in Bank of Montreal in the fourth quarter worth about $435,000. Finally, Lantz Financial LLC bought a new position in shares of Bank of Montreal in the fourth quarter worth about $293,000. 45.82% of the stock is currently owned by institutional investors.

Bank of Montreal Price Performance

NYSE:BMO opened at $99.60 on Friday. The business’s 50-day moving average is $97.92 and its 200 day moving average is $91.63. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $104.63. The company has a market capitalization of $72.70 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.42 and a beta of 1.09. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.11.

Bank of Montreal Increases Dividend

The company 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 dividend of $1.1329 per share. This represents a $4.53 annualized dividend and a dividend yield of 4.55%. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Thursday, January 30th. Bank of Montreal’s dividend payout ratio is 65.62%.

Wall Street Analyst Weigh In

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

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.