Bank Of Montreal (NYSE:BMO) Trading Down 3.3% – Here’s Why

Bank Of Montreal (NYSE:BMO) (TSE:BMO)’s share price fell 3.3% on Wednesday . The stock traded as low as $130.07 and last traded at $125.9750. 185,210 shares were traded during trading, a decline of 72% from the average session volume of 673,044 shares. The stock had previously closed at $130.33.

Analyst Upgrades and Downgrades

BMO has been the subject of several research reports. CIBC raised Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, September 5th. Cowen reiterated a “hold” rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Royal Bank Of Canada lowered Bank Of Montreal from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $168.00 to $163.00 in a research report on Friday, October 3rd. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Finally, Cibc World Mkts upgraded shares of Bank Of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Trading Down 2.0%

The firm has a market capitalization of $90.58 billion, a PE ratio of 15.62, a P/E/G ratio of 1.08 and a beta of 0.95. The firm has a 50 day simple moving average of $125.91 and a 200 day simple moving average of $120.46. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.20. Bank Of Montreal had a return on equity of 11.76% and a net margin of 11.13%.The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the prior year, the company posted $1.90 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Friday, January 30th will be issued a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, January 30th. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s payout ratio is 57.35%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC purchased a new stake in Bank Of Montreal in the third quarter worth approximately $28,000. WFA of San Diego LLC purchased a new position in shares of Bank Of Montreal in the 2nd quarter worth $28,000. Larson Financial Group LLC grew its holdings in shares of Bank Of Montreal by 466.7% in the third quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock worth $31,000 after acquiring an additional 196 shares during the period. Bayforest Capital Ltd purchased a new stake in Bank Of Montreal during the first quarter valued at $34,000. Finally, Truvestments Capital LLC bought a new position in Bank Of Montreal in the first quarter valued at about $39,000. Institutional investors own 45.82% of the company’s stock.

Bank Of Montreal Company Profile

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.