Bank of Montreal (NYSE:BMO) Sees Significant Drop in Short Interest

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) was the target of a large decrease in short interest during the month of 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 volume of 678,600 shares, the short-interest ratio is presently 9.4 days. Currently, 0.9% of the shares of the stock are sold short.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Bank of Montreal in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. 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. 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. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. Finally, Barclays assumed coverage on shares of Bank of Montreal in a research report on Wednesday, March 20th. They issued an “overweight” rating for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.00.

View Our Latest Analysis on BMO

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. PCA Investment Advisory Services Inc. bought a new position in Bank of Montreal during the second quarter worth $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Bank of Montreal by 192.1% in the third quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock valued at $28,000 after buying an additional 219 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of Bank of Montreal in the third quarter valued at $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Bank of Montreal in the third quarter valued at $33,000. Finally, Principal Securities Inc. bought a new position in shares of Bank of Montreal in the fourth quarter valued at $33,000. 45.82% of the stock is owned by institutional investors.

Bank of Montreal Trading Down 0.1 %

BMO opened at $97.61 on Tuesday. Bank of Montreal has a twelve month low of $73.98 and a twelve month high of $100.12. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $94.08 and a 200-day moving average of $88.87. The stock has a market cap of $71.18 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13.

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last posted its quarterly earnings data 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). Bank of Montreal had a return on equity of 11.89% and a net margin of 7.40%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $6.34 billion. On average, sell-side analysts predict that Bank of Montreal will post 8.94 EPS for the current year.

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be paid a dividend of $1.1172 per share. The ex-dividend date of this dividend is Friday, April 26th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.11. This represents a $4.47 annualized dividend and a yield of 4.58%. Bank of Montreal’s dividend payout ratio is currently 62.02%.

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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