Bank of Montreal (NYSE:BMO) Short Interest Up 10.0% in November

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 6,070,000 shares, an increase of 10.0% from the November 15th total of 5,520,000 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average trading volume of 949,000 shares, the short-interest ratio is currently 6.4 days.

Wall Street Analysts Forecast Growth

BMO has been the subject of a number of research reports. StockNews.com raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a research report on Monday, December 9th. TD Securities lowered Bank of Montreal from a "buy" rating to a "hold" rating in a report on Tuesday, August 27th. Royal Bank of Canada restated a "sector perform" rating and issued a $133.00 target price (up from $106.00) on shares of Bank of Montreal in a research note on Friday, December 6th. Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 6th. Finally, CIBC raised Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of Montreal has an average rating of "Hold" and a consensus target price of $122.40.

Bank of Montreal Price Performance

Shares of BMO traded down $0.28 during midday trading on Friday, hitting $99.02. 401,132 shares of the company traded hands, compared to its average volume of 890,818. Bank of Montreal has a one year low of $76.98 and a one year high of $104.63. The firm has a market cap of $72.25 billion, a P/E ratio of 14.19, a PEG ratio of 1.42 and a beta of 1.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a 50-day moving average of $94.24 and a 200-day moving average of $88.59.

Bank of Montreal Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Thursday, January 30th will be issued a $1.1329 dividend. The ex-dividend date is Thursday, January 30th. This represents a $4.53 annualized dividend and a dividend yield of 4.58%. This is a boost from Bank of Montreal's previous quarterly dividend of $1.12. Bank of Montreal's dividend payout ratio is presently 67.34%.

Institutional Investors Weigh In On Bank of Montreal

Large investors have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL purchased a new position in Bank of Montreal in the 2nd quarter worth approximately $34,000. Rothschild Investment LLC purchased a new position in Bank of Montreal in the second quarter worth $40,000. Wilmington Savings Fund Society FSB bought a new position in Bank of Montreal in the third quarter valued at $45,000. GHP Investment Advisors Inc. raised its position in Bank of Montreal by 244.1% during the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank's stock valued at $50,000 after purchasing an additional 393 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Bank of Montreal by 207.8% during the third quarter. Blue Trust Inc. now owns 668 shares of the bank's stock worth $56,000 after purchasing an additional 451 shares during the last quarter. Institutional investors 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.