Bank of Montreal (NYSE:BMO) Short Interest Up 103.3% in January

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 17,910,000 shares, a growth of 103.3% from the January 15th total of 8,810,000 shares. Based on an average daily trading volume, of 691,800 shares, the days-to-cover ratio is presently 25.9 days. Currently, 2.5% of the shares of the stock are sold short.

Bank of Montreal Price Performance

BMO opened at $93.85 on Tuesday. Bank of Montreal has a one year low of $73.98 and a one year high of $102.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.96 and a quick ratio of 0.96. The company’s 50 day simple moving average is $94.41 and its 200-day simple moving average is $87.02. The stock has a market capitalization of $68.07 billion, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 1.52 and a beta of 1.15.

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last announced its quarterly earnings data on Friday, December 1st. The bank reported $2.07 earnings per share for the quarter, meeting the consensus estimate of $2.07. Bank of Montreal had a net margin of 6.41% and a return on equity of 12.55%. The business had revenue of $6.16 billion for the quarter. Sell-side analysts anticipate that Bank of Montreal will post 9.14 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, January 30th will be issued a $1.1137 dividend. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.11. This represents a $4.45 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Monday, January 29th. Bank of Montreal’s dividend payout ratio is currently 103.59%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BMO. National Bank Financial raised shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, December 20th. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Bank of America raised shares of Bank of Montreal from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th.

Read Our Latest Stock Analysis on BMO

Institutional Investors Weigh In On Bank of Montreal

Several hedge funds have recently bought and sold shares of the company. Canoe Financial LP raised its holdings in Bank of Montreal by 300,456.3% in the fourth quarter. Canoe Financial LP now owns 105,510,305 shares of the bank’s stock worth $10,439,190,000 after purchasing an additional 105,475,200 shares during the period. Vanguard Group Inc. raised its holdings in Bank of Montreal by 1.8% in the third quarter. Vanguard Group Inc. now owns 27,191,193 shares of the bank’s stock worth $2,294,121,000 after purchasing an additional 468,761 shares during the period. TD Asset Management Inc raised its holdings in Bank of Montreal by 19.9% in the fourth quarter. TD Asset Management Inc now owns 19,225,705 shares of the bank’s stock worth $1,911,635,000 after purchasing an additional 3,187,998 shares during the period. Bank of Nova Scotia increased its position in shares of Bank of Montreal by 10.6% during the third quarter. Bank of Nova Scotia now owns 14,783,968 shares of the bank’s stock worth $1,247,154,000 after acquiring an additional 1,417,298 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Bank of Montreal by 5.4% during the fourth quarter. Mackenzie Financial Corp now owns 14,495,589 shares of the bank’s stock worth $1,435,002,000 after acquiring an additional 738,579 shares in the last quarter. 43.89% of the stock is currently owned by institutional investors and hedge funds.

About Bank of Montreal

(Get Free Report)

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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