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

Bank of Montreal (NYSE:BMO) (TSE:BMO) shares saw strong trading volume on Friday . 3,688,722 shares traded hands during trading, an increase of 356% from the previous session’s volume of 809,237 shares.The stock last traded at $87.22 and had previously closed at $86.98.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BMO. Keefe, Bruyette & Woods cut shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $137.00 to $124.00 in a report on Monday, June 3rd. Desjardins downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, UBS Group assumed coverage on Bank of Montreal in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $127.50.

Bank of Montreal Trading Up 0.4 %

The firm has a market cap of $63.70 billion, a PE ratio of 14.45, a PEG ratio of 2.13 and a beta of 1.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50-day moving average price of $87.04 and a two-hundred day moving average price of $91.58.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Wednesday, May 29th. The bank reported $1.91 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.10). Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.96 billion. Analysts forecast that Bank of Montreal will post 7.91 EPS for the current year.

Bank of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, July 30th will be given a dividend of $1.125 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. The ex-dividend date is Tuesday, July 30th. This represents a $4.50 annualized dividend and a yield of 5.15%. Bank of Montreal’s dividend payout ratio (DPR) is presently 74.25%.

Institutional Trading of Bank of Montreal

A number of large investors have recently made changes to their positions in the stock. Principal Securities Inc. purchased a new position in Bank of Montreal in the 4th quarter valued at about $33,000. Cullen Frost Bankers Inc. grew its stake 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 acquiring an additional 405 shares during the period. Headlands Technologies LLC acquired a new position in Bank of Montreal in the 4th quarter valued at $44,000. EverSource Wealth Advisors LLC lifted its stake in shares of Bank of Montreal by 39.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock worth $46,000 after purchasing an additional 130 shares during the period. Finally, IAG Wealth Partners LLC boosted its holdings in shares of Bank of Montreal by 117.5% during the fourth quarter. IAG Wealth Partners LLC now owns 496 shares of the bank’s stock worth $49,000 after purchasing an additional 268 shares during 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.