Zacks Investment Research lowered shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) from a hold rating to a sell rating in a research report released on Friday.

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. “

Several other analysts have also weighed in on BMO. ValuEngine lowered shares of Bank of Montreal from a hold rating to a sell rating in a research note on Thursday, November 1st. BMO Capital Markets upgraded shares of Bank of Montreal to a $78.97 rating in a research note on Wednesday, July 18th. Canaccord Genuity upgraded shares of Bank of Montreal from a hold rating to a buy rating in a research note on Wednesday, August 29th. Finally, Royal Bank of Canada upgraded shares of Bank of Montreal from a sector perform rating to an outperform rating and set a $120.00 price objective for the company in a research note on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $106.50.

Shares of NYSE:BMO traded down $0.74 during mid-day trading on Friday, hitting $74.83. The company had a trading volume of 520,968 shares, compared to its average volume of 895,950. The firm has a market capitalization of $48.49 billion, a P/E ratio of 11.99, a P/E/G ratio of 1.24 and a beta of 1.10. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.14. Bank of Montreal has a one year low of $73.79 and a one year high of $84.71.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, August 28th. The bank reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.07. The company had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.45 billion. Bank of Montreal had a net margin of 16.17% and a return on equity of 14.75%. On average, analysts anticipate that Bank of Montreal will post 6.91 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Thursday, November 1st will be paid a dividend of $0.7386 per share. The ex-dividend date is Wednesday, October 31st. This represents a $2.95 dividend on an annualized basis and a yield of 3.95%. Bank of Montreal’s dividend payout ratio (DPR) is presently 46.79%.

Hedge funds have recently made changes to their positions in the business. BDO Wealth Advisors LLC bought a new stake in Bank of Montreal during the 2nd quarter valued at $105,000. AdvisorNet Financial Inc increased its stake in Bank of Montreal by 148.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,526 shares of the bank’s stock valued at $118,000 after purchasing an additional 911 shares in the last quarter. Columbia Asset Management bought a new stake in Bank of Montreal during the 3rd quarter valued at $161,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Bank of Montreal during the 2nd quarter valued at $155,000. Finally, Zions Bancorporation bought a new stake in Bank of Montreal during the 3rd quarter valued at $175,000. Institutional investors and hedge funds own 43.42% of the company’s stock.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.

See Also: Technical Analysis of Stocks, How Can It Help

Get a free copy of the Zacks research report on Bank of Montreal (BMO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Bank of Montreal (NYSE:BMO)

Receive News & Ratings for Bank of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Montreal and related companies with MarketBeat.com's FREE daily email newsletter.