Bank of Montreal (NYSE:BMO) Sees Large Volume Increase

Bank of Montreal (NYSE:BMO) (TSE:BMO) saw unusually-strong trading volume on Thursday . Approximately 2,829,416 shares traded hands during mid-day trading, an increase of 307% from the previous session’s volume of 694,566 shares.The stock last traded at $91.84 and had previously closed at $92.84.

Wall Street Analysts Forecast Growth

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

Bank of Montreal Price Performance

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 firm’s 50 day simple moving average is $94.16 and its 200 day simple moving average is $90.16. The company has a market capitalization of $66.29 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 1.78 and a beta of 1.13.

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

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, April 29th will be paid a dividend of $1.1172 per share. This represents a $4.47 annualized dividend and a yield of 4.92%. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, April 26th. Bank of Montreal’s payout ratio is presently 62.02%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Schechter Investment Advisors LLC lifted its position in shares of Bank of Montreal by 3.8% during the fourth quarter. Schechter Investment Advisors LLC now owns 3,161 shares of the bank’s stock worth $313,000 after purchasing an additional 116 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of Bank of Montreal by 2.1% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,739 shares of the bank’s stock worth $568,000 after purchasing an additional 116 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Bank of Montreal by 1.9% during the fourth quarter. Pacer Advisors Inc. now owns 6,622 shares of the bank’s stock worth $655,000 after purchasing an additional 126 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Bank of Montreal by 39.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock worth $46,000 after purchasing an additional 130 shares during the last quarter. Finally, IAG Wealth Partners LLC lifted its position in shares of Bank of Montreal by 28.0% during the first quarter. IAG Wealth Partners LLC now owns 635 shares of the bank’s stock worth $62,000 after purchasing an additional 139 shares during the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

About Bank of Montreal

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.