Bank Of Montreal (NYSE:BMO) Short Interest Update

Bank Of Montreal (NYSE:BMO) (TSE:BMO) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 5,982,070 shares, a growth of 40.6% from the December 31st total of 4,255,749 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily volume of 654,307 shares, the short-interest ratio is currently 9.1 days. Based on an average daily volume of 654,307 shares, the short-interest ratio is currently 9.1 days. Approximately 0.9% of the shares of the company are sold short.

Bank Of Montreal Price Performance

Shares of BMO traded up $2.40 during trading hours on Monday, reaching $138.55. 598,425 shares of the stock traded hands, compared to its average volume of 860,163. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a 52-week low of $85.40 and a 52-week high of $141.63. The company’s 50-day moving average price is $131.68 and its two-hundred day moving average price is $125.44. The company has a market cap of $98.03 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 1.13 and a beta of 0.94.

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

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors 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 represents a $6.68 dividend on an annualized basis and a yield of 4.8%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s payout ratio is presently 59.68%.

Institutional Investors Weigh In On Bank Of Montreal

Institutional investors and hedge funds have recently modified their holdings of the stock. True Wealth Design LLC purchased a new position in Bank Of Montreal during the third quarter valued at $28,000. Larson Financial Group LLC boosted its holdings in shares of Bank Of Montreal by 466.7% during the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after purchasing an additional 196 shares during the last quarter. WFA of San Diego LLC purchased a new position in shares of Bank Of Montreal during the second quarter valued at about $28,000. Flagship Harbor Advisors LLC purchased a new position in shares of Bank Of Montreal during the fourth quarter valued at about $34,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of Bank Of Montreal in the third quarter worth about $42,000. Institutional investors own 45.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BMO shares. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. Natl Bk Canada downgraded shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank Of Montreal in a research note on Monday, December 29th. Wall Street Zen lowered Bank Of Montreal from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.00.

Bank Of Montreal Company Profile

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.