Bank Of Montreal (NYSE:BMO) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Unusually-high trading volume: about 3,116,649 shares changed hands mid-day (a 276% increase from 829,280), with the stock last trading around $151.98 versus a prior close of $152.37.
• Analyst sentiment is cautiously positive: MarketBeat shows a consensus rating of "Moderate Buy" with an average target price of $163.00 (ratings mix: 2 Strong Buy, 3 Buy, 6 Hold, 1 Sell).
• Fundamentals and shareholder returns: BMO reported Q results beating estimates (EPS $2.51 vs. $2.35; revenue $7.21B vs. $6.73B) and announced a quarterly dividend of $1.67 per share (4.4% yield), payable May 26 with an ex-dividend date of April 29.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO saw unusually-strong trading volume on Tuesday . Approximately 3,116,649 shares changed hands during mid-day trading, an increase of 276% from the previous session's volume of 829,280 shares.The stock last traded at $151.9830 and had previously closed at $152.37.

Analysts Set New Price Targets

BMO has been the topic of several research reports. TD Securities raised shares of Bank Of Montreal from a "hold" rating to a "buy" rating in a research report on Tuesday, January 27th. Wall Street Zen upgraded shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a research note on Sunday, February 8th. Raymond James Financial raised Bank Of Montreal from a "market perform" rating to an "outperform" rating in a report on Friday, February 13th. Weiss Ratings restated a "buy (b)" rating on shares of Bank Of Montreal in a research report on Friday, April 17th. Finally, National Bank Financial reaffirmed a "sector perform" rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Bank Of Montreal has a consensus rating of "Moderate Buy" and an average target price of $163.00.

Bank Of Montreal Stock Performance

The company has a market cap of $106.12 billion, a PE ratio of 17.59, a P/E/G ratio of 0.98 and a beta of 0.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02. The stock's 50-day simple moving average is $142.45 and its 200 day simple moving average is $134.59.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.16. The business had revenue of $7.21 billion for the quarter, compared to the consensus estimate of $6.73 billion. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.04 earnings per share. As a group, equities analysts anticipate that Bank Of Montreal will post 10.2 EPS for the current year.

Bank Of Montreal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, April 29th will be given a dividend of $1.67 per share. The ex-dividend date is Wednesday, April 29th. This represents a $6.68 annualized dividend and a yield of 4.4%. Bank Of Montreal's payout ratio is presently 56.56%.

Institutional Trading of Bank Of Montreal

Several hedge funds have recently modified their holdings of the business. NBT Bank N A NY grew its holdings in Bank Of Montreal by 3,443.8% during the first quarter. NBT Bank N A NY now owns 46,069 shares of the bank's stock worth $6,235,000 after acquiring an additional 44,769 shares during the period. Turn8 Private Wealth Inc. lifted its holdings in Bank Of Montreal by 0.8% in the first quarter. Turn8 Private Wealth Inc. now owns 11,215 shares of the bank's stock valued at $1,514,000 after acquiring an additional 93 shares during the period. QRG Capital Management Inc. acquired a new stake in Bank Of Montreal in the first quarter valued at $294,000. HB Wealth Management LLC boosted its position in shares of Bank Of Montreal by 104.0% during the 1st quarter. HB Wealth Management LLC now owns 9,484 shares of the bank's stock worth $1,284,000 after purchasing an additional 4,834 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Bank Of Montreal by 1.1% during the 1st quarter. Private Advisor Group LLC now owns 20,944 shares of the bank's stock worth $2,835,000 after purchasing an additional 226 shares in the last quarter. 45.82% of the stock is 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.

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