Bank Of Montreal (BMO) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research downgraded shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) from a hold rating to a sell rating in a report issued on Wednesday morning.
According to Zacks, “Bank of Montreal is one of the largest banks in North America, is also one of Canada’s oldest banks. The bank offers a complete range of financial services in our chosen markets on both sides of the Canada-United States border. The bank offers to all of their clients not just financial products, but knowledge-based solutions, custom-made to add value in their financial affairs. “
Other analysts have also recently issued reports about the stock. Scotiabank restated a buy rating and set a $101.00 price objective on shares of Bank Of Montreal in a research note on Wednesday, August 30th. Macquarie started coverage on shares of Bank Of Montreal in a report on Tuesday, October 24th. They set a neutral rating and a $81.00 target price for the company. Canaccord Genuity set a $102.00 target price on shares of Bank Of Montreal and gave the company a hold rating in a report on Tuesday, August 29th. Finally, BidaskClub lowered shares of Bank Of Montreal from a buy rating to a hold rating in a report on Saturday, August 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $95.40.
Bank Of Montreal (NYSE:BMO) traded down $0.09 during trading hours on Wednesday, hitting $77.78. 202,514 shares of the stock were exchanged, compared to its average volume of 308,807. The company has a market cap of $50,200.00, a PE ratio of 12.34, a P/E/G ratio of 2.17 and a beta of 1.06. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Bank Of Montreal has a twelve month low of $62.42 and a twelve month high of $78.86.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its earnings results on Tuesday, August 29th. The bank reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.04). The company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.52 billion. Bank Of Montreal had a return on equity of 14.36% and a net margin of 20.04%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the business earned $1.94 earnings per share. equities analysts expect that Bank Of Montreal will post 6.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be issued a dividend of $0.717 per share. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.69%. Bank Of Montreal’s dividend payout ratio is presently 45.07%.
Institutional investors have recently added to or reduced their stakes in the company. Hugh Johnson Advisors LLC boosted its position in shares of Bank Of Montreal by 71.5% during the 3rd quarter. Hugh Johnson Advisors LLC now owns 6,537 shares of the bank’s stock valued at $495,000 after acquiring an additional 2,726 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Bank Of Montreal by 0.5% during the 3rd quarter. Legal & General Group Plc now owns 2,988,626 shares of the bank’s stock valued at $225,653,000 after acquiring an additional 13,890 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Bank Of Montreal by 6.8% during the 3rd quarter. Great West Life Assurance Co. Can now owns 6,098,215 shares of the bank’s stock valued at $460,556,000 after acquiring an additional 390,688 shares during the last quarter. NorthCoast Asset Management LLC boosted its position in shares of Bank Of Montreal by 3.1% during the 3rd quarter. NorthCoast Asset Management LLC now owns 53,361 shares of the bank’s stock valued at $4,040,000 after acquiring an additional 1,596 shares during the last quarter. Finally, Manitou Investment Management Ltd. boosted its position in shares of Bank Of Montreal by 10.8% during the 3rd quarter. Manitou Investment Management Ltd. now owns 12,701 shares of the bank’s stock valued at $961,000 after acquiring an additional 1,235 shares during the last quarter. 42.66% of the stock is owned by institutional investors and hedge funds.
About Bank Of Montreal
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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