Bank of Montreal (NYSE:BMO) Sees Unusually-High Trading Volume

Shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) saw strong trading volume on Thursday . 2,829,416 shares changed 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.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BMO. StockNews.com upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, March 3rd. Jefferies Financial Group assumed coverage on Bank of Montreal in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Finally, Barclays began coverage on Bank of Montreal in a research report on Wednesday, March 20th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.00.

Bank of Montreal Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a 50-day moving average price of $94.27 and a 200 day moving average price of $90.07. The stock has a market capitalization of $67.62 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13.

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

Bank of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, April 29th will be issued a $1.1172 dividend. The ex-dividend date of this dividend is Friday, April 26th. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.11. This represents a $4.47 dividend on an annualized basis and a yield of 4.82%. Bank of Montreal’s dividend payout ratio is currently 62.02%.

Hedge Funds Weigh In On Bank of Montreal

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Bank of Montreal by 192.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 333 shares of the bank’s stock valued at $28,000 after acquiring an additional 219 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in shares of Bank of Montreal in the 3rd quarter worth approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Bank of Montreal in the 3rd quarter worth approximately $33,000. Principal Securities Inc. acquired a new stake in shares of Bank of Montreal during the fourth quarter valued at approximately $33,000. Finally, Cullen Frost Bankers Inc. lifted its position in Bank of Montreal by 3,375.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock worth $41,000 after buying an additional 405 shares in the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

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.