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

Bank of Montreal (NYSE:BMO) (TSE:BMO) shares saw unusually-strong trading volume on Thursday . Approximately 2,829,416 shares traded hands during 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.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. 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. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Sunday, March 3rd. Finally, Barclays started coverage on shares of Bank of Montreal in a research note on Wednesday, March 20th. They issued an “overweight” rating for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Bank of Montreal currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.00.

Bank of Montreal Stock Down 0.1 %

The company’s 50 day moving average is $94.27 and its 200 day moving average is $90.07. The company has a market cap of $67.62 billion, a PE ratio of 17.75, a P/E/G ratio of 1.80 and a beta of 1.13. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

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

Bank of Montreal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, April 29th will be given a dividend of $1.1172 per share. The ex-dividend date is Friday, April 26th. This is a positive change from Bank of Montreal’s previous quarterly dividend of $1.11. This represents a $4.47 dividend on an annualized basis and a dividend yield of 4.82%. Bank of Montreal’s payout ratio is 62.02%.

Institutional Investors Weigh In On Bank of Montreal

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in Bank of Montreal by 192.1% in the third quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock worth $28,000 after purchasing an additional 219 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in Bank of Montreal in the third quarter worth approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Bank of Montreal during the 3rd quarter worth $33,000. Principal Securities Inc. acquired a new stake in Bank of Montreal during the 4th quarter worth approximately $33,000. Finally, Cullen Frost Bankers Inc. increased its position in Bank of Montreal by 3,375.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock worth $41,000 after buying an additional 405 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank of Montreal Company Profile

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.