Short Interest in Bank Of Montreal (NYSE:BMO) Rises By 45.7%

Bank Of Montreal (NYSE:BMO) (TSE:BMO) was the target of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 8,718,062 shares, an increase of 45.7% from the January 15th total of 5,982,070 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,114,501 shares, the days-to-cover ratio is currently 7.8 days. Based on an average daily trading volume, of 1,114,501 shares, the days-to-cover ratio is currently 7.8 days. Approximately 1.2% of the company’s stock are sold short.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank Of Montreal in a research report on Monday, December 29th. Raymond James Financial raised Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research report on Friday. Scotiabank restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. Wall Street Zen upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Finally, TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Bank Of Montreal presently has an average rating of “Moderate Buy” and an average target price of $163.00.

Bank Of Montreal Trading Up 0.6%

Bank Of Montreal stock opened at $141.01 on Friday. The stock has a 50-day moving average price of $134.59 and a 200 day moving average price of $127.11. The company has a market capitalization of $99.59 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94. Bank Of Montreal has a 52 week low of $85.40 and a 52 week high of $146.35. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.20. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter in the prior year, the company earned $1.90 EPS. Bank Of Montreal’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Friday, January 30th will be issued a $1.67 dividend. The ex-dividend date of this dividend is Friday, January 30th. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. This represents a $6.68 dividend on an annualized basis and a yield of 4.7%. Bank Of Montreal’s dividend payout ratio is presently 59.56%.

Institutional Investors Weigh In On Bank Of Montreal

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. PCM Encore LLC acquired a new position in shares of Bank Of Montreal in the 4th quarter valued at $481,000. Smartleaf Asset Management LLC increased its holdings in Bank Of Montreal by 77.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 724 shares of the bank’s stock valued at $94,000 after buying an additional 317 shares in the last quarter. Morgan Stanley raised its position in shares of Bank Of Montreal by 74.4% in the fourth quarter. Morgan Stanley now owns 3,817,406 shares of the bank’s stock worth $495,461,000 after acquiring an additional 1,628,318 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Bank Of Montreal by 7.6% during the 4th quarter. Public Sector Pension Investment Board now owns 391,429 shares of the bank’s stock worth $50,835,000 after acquiring an additional 27,551 shares in the last quarter. Finally, OpenArc Corporate Advisory LLC purchased a new stake in shares of Bank Of Montreal during the 4th quarter worth about $15,060,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.