Bank Of Montreal (NYSE:BMO) Sees Unusually-High Trading Volume – What’s Next?

Bank Of Montreal (NYSE:BMO) (TSE:BMO) shares saw unusually-high trading volume on Wednesday . Approximately 2,596,078 shares were traded during mid-day trading, an increase of 226% from the previous session’s volume of 796,293 shares.The stock last traded at $177.2680 and had previously closed at $180.63.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James Financial reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Weiss Ratings cut Bank Of Montreal from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. TD Securities reissued a “buy” rating on shares of Bank Of Montreal in a research note on Thursday, May 28th. Finally, Scotiabank reissued an “outperform” rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Stock Down 2.6%

The company has a market capitalization of $123.22 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 1.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s fifty day moving average price is $171.55 and its 200-day moving average price is $152.82.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The company had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.98 billion. During the same quarter last year, the business posted $2.62 EPS. Bank Of Montreal’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts expect that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Thursday, July 30th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 3.9%. This is an increase from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is presently 50.96%.

Institutional Investors Weigh In On Bank Of Montreal

Hedge funds have recently added to or reduced their stakes in the business. Code Waechter LLC increased its position in Bank Of Montreal by 1.7% in the 4th quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock valued at $582,000 after acquiring an additional 75 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Bank Of Montreal by 1.9% during the second quarter. Versant Capital Management Inc now owns 4,241 shares of the bank’s stock worth $749,000 after purchasing an additional 78 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Bank Of Montreal by 33.2% during the fourth quarter. Larson Financial Group LLC now owns 317 shares of the bank’s stock worth $41,000 after purchasing an additional 79 shares during the period. Naples Global Advisors LLC grew its stake in shares of Bank Of Montreal by 0.5% in the fourth quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank’s stock worth $2,308,000 after purchasing an additional 80 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its holdings in Bank Of Montreal by 2.9% in the first quarter. Checchi Capital Advisers LLC now owns 3,141 shares of the bank’s stock valued at $425,000 after purchasing an additional 88 shares during the period. 45.82% of the stock is currently owned by institutional investors and hedge funds.

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.