Bank of Montreal (NYSE:BMO) Sees Strong Trading Volume

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) saw strong trading volume on Monday . 32,190 shares were traded during trading, a decline of 96% from the previous session’s volume of 868,968 shares.The stock last traded at $110.58 and had previously closed at $112.03.

Several analysts recently weighed in on the company. Stifel Nicolaus decreased their price target on Bank of Montreal from C$172.00 to C$171.00 and set a “buy” rating on the stock in a report on Friday, April 8th. Barclays upped their price objective on Bank of Montreal from C$167.00 to C$171.00 and gave the company an “overweight” rating in a research report on Wednesday, March 2nd. began coverage on Bank of Montreal in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. TD Securities upped their price objective on Bank of Montreal from C$170.00 to C$175.00 and gave the company a “buy” rating in a research report on Wednesday, March 2nd. Finally, National Bank Financial downgraded Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 7th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $158.71.

The firm has a market capitalization of $73.44 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The company’s 50-day simple moving average is $116.15 and its 200 day simple moving average is $112.57.

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) last posted its earnings results on Tuesday, March 1st. The bank reported $3.07 EPS for the quarter, beating the Zacks’ consensus estimate of $2.60 by $0.47. Bank of Montreal had a net margin of 26.09% and a return on equity of 17.71%. The company had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the prior year, the company posted $2.38 earnings per share. Bank of Montreal’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, sell-side analysts forecast that Bank of Montreal will post 10.67 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Monday, May 2nd will be given a $1.049 dividend. This is a boost from Bank of Montreal’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Friday, April 29th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.84%. Bank of Montreal’s dividend payout ratio (DPR) is presently 40.44%.

Several institutional investors and hedge funds have recently bought and sold shares of BMO. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Bank of Montreal in the 3rd quarter valued at approximately $25,000. DeDora Capital Inc. purchased a new position in shares of Bank of Montreal in the first quarter worth $32,000. CWM LLC lifted its stake in shares of Bank of Montreal by 163.8% during the first quarter. CWM LLC now owns 277 shares of the bank’s stock worth $33,000 after buying an additional 172 shares during the period. Johnson Midwest Financial LLC purchased a new stake in shares of Bank of Montreal during the fourth quarter valued at $31,000. Finally, Glassman Wealth Services increased its position in shares of Bank of Montreal by 56.3% in the 4th quarter. Glassman Wealth Services now owns 286 shares of the bank’s stock valued at $31,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 41.52% of the company’s stock.

Bank of Montreal Company Profile (NYSE:BMO)

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

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