Bank of Montreal (NYSE:BMO) Short Interest Update

Bank of Montreal (NYSE:BMO) (TSE:BMO) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 7,520,000 shares, an increase of 45.2% from the February 28th total of 5,180,000 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average trading volume of 602,800 shares, the days-to-cover ratio is presently 12.5 days.

Bank of Montreal Price Performance

BMO stock traded up $0.21 during midday trading on Monday, hitting $95.48. The company’s stock had a trading volume of 535,815 shares, compared to its average volume of 850,590. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $106.00. The company has a 50 day moving average of $99.30 and a two-hundred day moving average of $95.97. The firm has a market capitalization of $69.41 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $1.36. The firm had revenue of $9.27 billion during the quarter, compared to analyst estimates of $8.58 billion. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. Bank of Montreal’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.56 earnings per share. On average, analysts expect that Bank of Montreal will post 7.71 EPS for the current year.

Bank of Montreal Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be issued a $1.1094 dividend. The ex-dividend date is Tuesday, April 29th. This represents a $4.44 annualized dividend and a dividend yield of 4.65%. Bank of Montreal’s dividend payout ratio (DPR) is 57.09%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BMO. StockNews.com raised Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Cibc World Mkts raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Royal Bank of Canada increased their price target on shares of Bank of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, December 6th. Seven investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $128.40.

Hedge Funds Weigh In On Bank of Montreal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc raised its holdings in shares of Bank of Montreal by 179.5% during the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock worth $30,000 after acquiring an additional 201 shares in the last quarter. Addison Advisors LLC grew its stake in shares of Bank of Montreal by 282.8% in the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock worth $32,000 after buying an additional 246 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in shares of Bank of Montreal during the 4th quarter valued at about $39,000. Dunhill Financial LLC purchased a new stake in shares of Bank of Montreal during the 4th quarter valued at about $39,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Bank of Montreal in the third quarter worth about $45,000. 45.82% of the stock is owned by 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.