Bank Of Montreal (NYSE:BMO) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) from a hold rating to a sell rating in a research report report published on Saturday morning.

Other analysts also recently issued research reports about the stock. Royal Bank Of Canada downgraded shares of Bank Of Montreal from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $168.00 to $163.00 in a report on Friday, October 3rd. TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday. Natl Bk Canada downgraded Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Raymond James Financial initiated coverage on shares of Bank Of Montreal in a research report on Monday, November 24th. They issued a “market perform” rating on the stock. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Bank Of Montreal in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Bank Of Montreal Stock Performance

Shares of Bank Of Montreal stock opened at $136.16 on Friday. The business’s 50 day moving average price is $131.35 and its 200 day moving average price is $125.19. The company has a market cap of $96.34 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 1.17 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. Bank Of Montreal has a one year low of $85.40 and a one year high of $141.63.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period last year, the company earned $1.90 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts predict that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Friday, January 30th will be paid a dividend of $1.67 per share. The ex-dividend date is Friday, January 30th. This is a positive change from Bank Of Montreal’s previous quarterly dividend of $1.63. This represents a $6.68 annualized dividend and a yield of 4.9%. Bank Of Montreal’s dividend payout ratio (DPR) is presently 57.35%.

Institutional Trading of Bank Of Montreal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Bank Of Montreal by 18.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 739,598 shares of the bank’s stock worth $82,015,000 after purchasing an additional 114,458 shares in the last quarter. Addenda Capital Inc. lifted its holdings in Bank Of Montreal by 9.5% in the third quarter. Addenda Capital Inc. now owns 734,616 shares of the bank’s stock valued at $95,684,000 after acquiring an additional 63,432 shares during the period. JCIC Asset Management Inc. acquired a new stake in shares of Bank Of Montreal in the third quarter valued at about $7,939,000. CIBC Asset Management Inc lifted its position in shares of Bank Of Montreal by 17.3% during the 3rd quarter. CIBC Asset Management Inc now owns 7,260,160 shares of the bank’s stock valued at $949,441,000 after acquiring an additional 1,070,546 shares during the period. Finally, Lorne Steinberg Wealth Management Inc. boosted its stake in shares of Bank Of Montreal by 24.1% during the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 92,014 shares of the bank’s stock worth $10,204,000 after acquiring an additional 17,883 shares in the last quarter. Institutional investors and hedge funds 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.