Bank of Montreal (NYSE:BMO) Sees Large Decrease in Short Interest

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO saw a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 5,440,000 shares, a decline of 52.3% from the April 30th total of 11,410,000 shares. Based on an average daily volume of 719,300 shares, the days-to-cover ratio is currently 7.6 days. Currently, 0.8% of the shares of the stock are short sold.

Bank of Montreal Trading Up 0.4%

Shares of BMO traded up $0.43 during mid-day trading on Friday, reaching $107.41. 461,479 shares of the company were exchanged, compared to its average volume of 836,161. Bank of Montreal has a 52 week low of $76.98 and a 52 week high of $108.38. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $77.56 billion, a PE ratio of 15.39, a PEG ratio of 1.43 and a beta of 1.03. The business has a 50 day simple moving average of $97.18 and a two-hundred day simple moving average of $97.85.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, meeting analysts' consensus estimates of $1.84. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The business had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same quarter in the prior year, the firm posted $2.59 EPS. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts predict that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Wednesday, July 30th will be given a $1.1801 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.72 annualized dividend and a yield of 4.39%. This is an increase from Bank of Montreal's previous quarterly dividend of $1.11. Bank of Montreal's dividend payout ratio (DPR) is presently 58.75%.

Institutional Trading of Bank of Montreal

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Bank of Montreal by 228.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock valued at $26,000 after buying an additional 190 shares during the last quarter. IFP Advisors Inc lifted its position in Bank of Montreal by 179.5% in the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank's stock valued at $30,000 after acquiring an additional 201 shares in the last quarter. Addison Advisors LLC lifted its position in Bank of Montreal by 282.8% in the 4th quarter. Addison Advisors LLC now owns 333 shares of the bank's stock valued at $32,000 after acquiring an additional 246 shares in the last quarter. Bayforest Capital Ltd acquired a new position in Bank of Montreal during the 1st quarter valued at about $34,000. Finally, Vision Financial Markets LLC bought a new stake in Bank of Montreal during the 4th quarter worth approximately $39,000. Institutional investors own 45.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BMO shares. Cibc World Mkts downgraded shares of Bank of Montreal from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Scotiabank initiated coverage on Bank of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating on the stock. Wall Street Zen upgraded Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Royal Bank of Canada boosted their price target on Bank of Montreal from $161.00 to $163.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, CIBC reaffirmed a "neutral" rating on shares of Bank of Montreal in a research note on Tuesday, May 20th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $128.40.

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.