Wall Street Zen Downgrades Bank Of Montreal (NYSE:BMO) to Sell

Wall Street Zen downgraded shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) from a hold rating to a sell rating in a research note released on Friday.

BMO has been the topic of several other research reports. Scotiabank assumed coverage on shares of Bank Of Montreal in a research note on Thursday, May 15th. They set a “sector perform” rating on the stock. Barclays downgraded shares of Bank Of Montreal from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 9th. CIBC reissued a “neutral” rating on shares of Bank Of Montreal in a research report on Tuesday, May 20th. Finally, Cibc World Mkts lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank Of Montreal currently has a consensus rating of “Hold” and a consensus target price of $129.50.

Bank Of Montreal Trading Down 0.1%

NYSE:BMO traded down $0.07 during trading hours on Friday, reaching $114.29. 442,677 shares of the company were exchanged, compared to its average volume of 795,807. Bank Of Montreal has a 52-week low of $76.98 and a 52-week high of $114.76. The stock has a 50 day simple moving average of $108.00 and a 200 day simple moving average of $101.01. The firm has a market cap of $82.10 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.00 and a quick ratio of 1.00.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, meeting analysts’ consensus estimates of $1.84. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The firm had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $8.79 billion. During the same period in the prior year, the firm posted $2.59 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. As a group, analysts predict that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $1.1801 per share. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.11. This represents a $4.72 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Wednesday, July 30th. Bank Of Montreal’s dividend payout ratio (DPR) is currently 57.33%.

Institutional Investors Weigh In On Bank Of Montreal

Several large investors have recently made changes to their positions in the stock. Cary Street Partners Investment Advisory LLC lifted its holdings in Bank Of Montreal by 228.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock valued at $26,000 after purchasing an additional 190 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Bank Of Montreal during the 1st quarter valued at $34,000. Dunhill Financial LLC acquired a new stake in Bank Of Montreal during the 4th quarter valued at $39,000. Truvestments Capital LLC acquired a new stake in shares of Bank Of Montreal during the first quarter worth $39,000. Finally, CX Institutional acquired a new stake in shares of Bank Of Montreal during the first quarter worth $42,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

Bank Of Montreal Company Profile

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.