Bank Of Montreal (NYSE:BMO) Sees Unusually-High Trading Volume – What’s Next?
by Teresa Graham · The Cerbat GemBank 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.
Analyst Ratings Changes
A number of equities analysts have weighed in on BMO shares. Wall Street Zen upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Barclays cut Bank Of Montreal from an “equal weight” rating to an “underweight” rating in a report on Friday, March 20th. Zacks Research cut Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, January 27th. Finally, National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $163.00.
Check Out Our Latest Report on BMO
Bank Of Montreal Stock Performance
The company has a market capitalization of $106.77 billion, a PE ratio of 17.69, a PEG ratio of 0.95 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 company has a 50 day moving average price of $142.94 and a 200 day moving average price of $134.99.
Bank Of Montreal (NYSE:BMO – Get Free Report) (TSE:BMO) last released its earnings results on Wednesday, February 25th. The bank reported $2.51 EPS for the quarter, beating the consensus estimate of $2.35 by $0.16. The company had revenue of $7.21 billion during the quarter, compared to analysts’ expectations of $6.73 billion. Bank Of Montreal had a return on equity of 12.16% and a net margin of 11.76%.The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 EPS. Equities analysts forecast that Bank Of Montreal will post 10.2 EPS for the current year.
Bank Of Montreal Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Wednesday, April 29th will be paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, April 29th. Bank Of Montreal’s dividend payout ratio is 55.75%.
Hedge Funds Weigh In On Bank Of Montreal
Several institutional investors and hedge funds have recently made changes to their positions in BMO. Citigroup Inc. raised its position in shares of Bank Of Montreal by 36.6% during the 3rd quarter. Citigroup Inc. now owns 502,382 shares of the bank’s stock valued at $65,479,000 after acquiring an additional 134,699 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Bank Of Montreal by 17.3% during the 3rd quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock valued at $949,441,000 after acquiring an additional 1,070,546 shares in the last quarter. JCIC Asset Management Inc. acquired a new stake in shares of Bank Of Montreal during the 3rd quarter valued at approximately $7,939,000. Vanguard Group Inc. raised its position in shares of Bank Of Montreal by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 32,343,957 shares of the bank’s stock valued at $4,214,676,000 after acquiring an additional 149,944 shares in the last quarter. Finally, Aviso Financial Inc. raised its position in shares of Bank Of Montreal by 24.2% during the 3rd quarter. Aviso Financial Inc. now owns 1,002,099 shares of the bank’s stock valued at $130,601,000 after acquiring an additional 195,154 shares in the last quarter. 45.82% of the stock is currently owned by hedge funds and other institutional investors.
About Bank Of Montreal
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.