Bank Of Montreal (NYSE:BMO) Cut to “Sell” at 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 report published on Saturday morning.

A number of other brokerages have also recently commented on BMO. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, January 27th. Raymond James Financial initiated coverage on shares of Bank Of Montreal in a research note on Monday, November 24th. They issued a “market perform” rating for the company. Scotiabank reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank Of Montreal in a report on Monday, December 29th. Finally, Royal Bank Of Canada lowered Bank Of Montreal from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $168.00 to $163.00 in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Bank Of Montreal currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.00.

Bank Of Montreal Stock Performance

NYSE:BMO opened at $138.55 on Friday. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $141.63. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50 day moving average price of $131.68 and a 200 day moving average price of $125.44. The stock has a market capitalization of $98.03 billion, a P/E ratio of 16.98, a PEG ratio of 1.13 and a beta of 0.94.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 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 company had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the prior year, the firm earned $1.90 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Bank Of Montreal will post 7.71 EPS for the current year.

Bank Of Montreal Increases Dividend

The company also recently declared 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 represents a $6.68 dividend on an annualized basis and a yield of 4.8%. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.63. Bank Of Montreal’s dividend payout ratio (DPR) is 59.56%.

Hedge Funds Weigh In On Bank Of Montreal

A number of hedge funds have recently modified their holdings of BMO. True Wealth Design LLC acquired a new stake in Bank Of Montreal in the third quarter valued at $28,000. Larson Financial Group LLC increased its holdings in shares of Bank Of Montreal by 466.7% in the 3rd quarter. Larson Financial Group LLC now owns 238 shares of the bank’s stock valued at $31,000 after purchasing an additional 196 shares in the last quarter. WFA of San Diego LLC acquired a new stake in shares of Bank Of Montreal in the second quarter valued at about $28,000. Flagship Harbor Advisors LLC purchased a new stake in Bank Of Montreal during the fourth quarter worth about $34,000. Finally, Sunbelt Securities Inc. purchased a new stake in Bank Of Montreal during the third quarter worth about $42,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

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.