Bank of Montreal (NYSE:BMO) Short Interest Up 103.3% in January

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 17,910,000 shares, an increase of 103.3% from the January 15th total of 8,810,000 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average trading volume of 691,800 shares, the days-to-cover ratio is presently 25.9 days.

Hedge Funds Weigh In On Bank of Montreal

A number of large investors have recently modified their holdings of the business. Quadrant Capital Group LLC raised its stake in shares of Bank of Montreal by 6.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,914 shares of the bank’s stock worth $173,000 after buying an additional 115 shares in the last quarter. Schechter Investment Advisors LLC raised its stake in shares of Bank of Montreal by 3.8% during the 4th quarter. Schechter Investment Advisors LLC now owns 3,161 shares of the bank’s stock worth $313,000 after buying an additional 116 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Bank of Montreal by 2.1% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,739 shares of the bank’s stock worth $568,000 after acquiring an additional 116 shares during the period. Capital World Investors grew its holdings in shares of Bank of Montreal by 1.3% in the 2nd quarter. Capital World Investors now owns 9,621 shares of the bank’s stock worth $869,000 after acquiring an additional 119 shares during the period. Finally, Smith Moore & CO. grew its holdings in shares of Bank of Montreal by 4.7% in the 2nd quarter. Smith Moore & CO. now owns 2,658 shares of the bank’s stock worth $240,000 after acquiring an additional 120 shares during the period. 43.89% of the stock is owned by hedge funds and other institutional investors.

Bank of Montreal Stock Up 1.3 %

BMO opened at $93.85 on Tuesday. The business has a 50 day moving average price of $94.41 and a two-hundred day moving average price of $87.02. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.12. The company has a market cap of $68.07 billion, a PE ratio of 22.45, a P/E/G ratio of 1.52 and a beta of 1.15. Bank of Montreal has a 52 week low of $73.98 and a 52 week high of $102.00.

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) last posted its quarterly earnings data on Friday, December 1st. The bank reported $2.07 EPS for the quarter, meeting the consensus estimate of $2.07. The firm had revenue of $6.16 billion during the quarter. Bank of Montreal had a return on equity of 12.55% and a net margin of 6.41%. As a group, research analysts anticipate that Bank of Montreal will post 9.14 EPS for the current year.

Bank of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, January 30th will be paid a dividend of $1.1137 per share. This represents a $4.45 dividend on an annualized basis and a dividend yield of 4.75%. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.11. The ex-dividend date is Monday, January 29th. Bank of Montreal’s dividend payout ratio is 103.59%.

Wall Street Analysts Forecast Growth

BMO has been the subject of several analyst reports. StockNews.com raised Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. National Bank Financial raised Bank of Montreal from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, December 20th. Finally, Bank of America raised Bank of Montreal from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th.

Read Our Latest Report on Bank of Montreal

About Bank of Montreal

(Get Free Report)

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.

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