Bank of Montreal (NYSE:BMO) Short Interest Up 45.2% in March

Bank of Montreal (NYSE:BMO) (TSE:BMO) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 7,520,000 shares, an increase of 45.2% from the February 28th total of 5,180,000 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average trading volume of 602,800 shares, the short-interest ratio is currently 12.5 days.

Bank of Montreal Stock Performance

Shares of NYSE BMO traded up $0.81 during trading hours on Tuesday, hitting $96.32. 275,855 shares of the company’s stock were exchanged, compared to its average volume of 848,344. The company’s 50-day moving average price is $99.23 and its 200-day moving average price is $96.05. Bank of Montreal has a 1-year low of $76.98 and a 1-year high of $106.00. The stock has a market capitalization of $70.02 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.43 and a beta of 1.07. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $1.36. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The company had revenue of $9.27 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same period last year, the business posted $2.56 EPS. The business’s quarterly revenue was up 20.8% on a year-over-year basis. On average, sell-side analysts expect that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank of Montreal Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, April 29th will be issued a dividend of $1.1094 per share. This represents a $4.44 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Tuesday, April 29th. Bank of Montreal’s payout ratio is presently 57.09%.

Institutional Trading of Bank of Montreal

Institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc raised its stake in shares of 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 buying an additional 201 shares in the last quarter. Addison Advisors LLC raised its position in Bank of Montreal by 282.8% in the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock worth $32,000 after purchasing an additional 246 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in Bank of Montreal during the fourth quarter valued at approximately $39,000. Dunhill Financial LLC acquired a new position in shares of Bank of Montreal in the 4th quarter worth approximately $39,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Bank of Montreal during the 3rd quarter worth approximately $45,000. 45.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BMO. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Royal Bank of Canada increased their price objective on Bank of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. CIBC raised shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, December 6th. Finally, StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.