Zacks Investment Research downgraded shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) from a buy rating to a hold rating in a research note released on Thursday.

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. “

BMO has been the topic of several other research reports. Scotiabank reiterated a buy rating and issued a $112.00 target price on shares of Bank of Montreal in a research report on Wednesday, November 22nd. Macquarie initiated coverage on shares of Bank of Montreal in a research report on Tuesday, October 24th. They issued a neutral rating and a $81.00 target price on the stock. Finally, Canaccord Genuity reiterated a hold rating and issued a $105.00 target price on shares of Bank of Montreal in a research report on Tuesday, December 5th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $98.60.

Shares of Bank of Montreal (NYSE BMO) opened at $75.64 on Thursday. The company has a market cap of $49,000.80, a price-to-earnings ratio of 12.12, a P/E/G ratio of 1.60 and a beta of 1.04. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.13. Bank of Montreal has a 52-week low of $66.75 and a 52-week high of $84.71.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, December 5th. The bank reported $1.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by ($0.03). The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.25 billion. Bank of Montreal had a net margin of 19.00% and a return on equity of 14.11%. equities analysts expect that Bank of Montreal will post 6.84 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 1st will be given a $0.733 dividend. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.72. The ex-dividend date is Wednesday, January 31st. This represents a $2.93 annualized dividend and a dividend yield of 3.88%. Bank of Montreal’s dividend payout ratio (DPR) is 48.43%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Motco acquired a new position in Bank of Montreal during the third quarter worth about $108,000. Advisory Services Network LLC boosted its position in Bank of Montreal by 409.1% during the second quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock worth $115,000 after acquiring an additional 1,260 shares during the last quarter. Sei Investments Co. boosted its position in Bank of Montreal by 6,400.0% during the third quarter. Sei Investments Co. now owns 2,015 shares of the bank’s stock worth $174,000 after acquiring an additional 1,984 shares during the last quarter. Zions Bancorporation boosted its position in Bank of Montreal by 3,656.5% during the third quarter. Zions Bancorporation now owns 2,329 shares of the bank’s stock worth $176,000 after acquiring an additional 2,267 shares during the last quarter. Finally, Sii Investments Inc. WI acquired a new position in Bank of Montreal during the third quarter worth about $201,000. Institutional investors and hedge funds own 42.80% of the company’s stock.

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Bank of Montreal Company Profile

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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