Short Interest in Bank of Montreal (NYSE:BMO) Decreases By 5.3%

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) saw a large decrease in short interest in March. As of March 15th, there was short interest totalling 6,370,000 shares, a decrease of 5.3% from the February 29th total of 6,730,000 shares. Based on an average daily trading volume, of 678,600 shares, the short-interest ratio is presently 9.4 days. Currently, 0.9% of the company’s stock are sold short.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com raised Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. Jefferies Financial Group assumed coverage on Bank of Montreal in a report on Thursday, February 22nd. They set a “buy” rating on the stock. National Bank Financial raised Bank of Montreal from a “sector perform” rating to an “outperform” rating in a report on Wednesday, December 20th. Bank of America upgraded Bank of Montreal from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Finally, Barclays assumed coverage on Bank of Montreal in a research report on Wednesday, March 20th. They set an “overweight” rating on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Bank of Montreal currently has an average rating of “Moderate Buy” and an average price target of $131.00.

Check Out Our Latest Research Report on BMO

Bank of Montreal Stock Performance

NYSE BMO opened at $96.46 on Wednesday. The company has a market cap of $70.33 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13. The stock’s 50 day simple moving average is $94.13 and its 200-day simple moving average is $88.99. Bank of Montreal has a 1-year low of $73.98 and a 1-year high of $100.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94.

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last released its earnings results on Tuesday, February 27th. The bank reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.34). The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $6.34 billion. Bank of Montreal had a net margin of 7.40% and a return on equity of 11.89%. As a group, equities research analysts anticipate that Bank of Montreal will post 8.94 EPS for the current fiscal year.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be issued a $1.1172 dividend. This represents a $4.47 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend is Friday, April 26th. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.11. Bank of Montreal’s dividend payout ratio (DPR) is currently 62.02%.

Institutional Investors Weigh In On Bank of Montreal

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PCA Investment Advisory Services Inc. acquired a new stake in shares of Bank of Montreal in the second quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its stake in Bank of Montreal by 192.1% during the third quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock worth $28,000 after acquiring an additional 219 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of Bank of Montreal in the third quarter valued at $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Bank of Montreal in the third quarter valued at $33,000. Finally, Principal Securities Inc. acquired a new stake in shares of Bank of Montreal in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank of Montreal Company Profile

(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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