Bank of Montreal (NYSE:BMO) (TSE:BMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

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. “

Other equities analysts have also issued research reports about the company. TD Securities lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, December 4th. Macquarie downgraded Bank of Montreal from an “outperform” rating to a “neutral” rating in a research report on Wednesday, December 12th. ValuEngine downgraded Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Desjardins reaffirmed a “hold” rating on shares of Bank of Montreal in a research report on Tuesday, December 11th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Bank of Montreal in a research report on Tuesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $102.00.

BMO stock traded up $0.84 during midday trading on Monday, reaching $72.95. The stock had a trading volume of 426,681 shares, compared to its average volume of 477,073. The firm has a market capitalization of $46.64 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 1.70 and a beta of 1.16. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.17 and a quick ratio of 1.17. Bank of Montreal has a 52-week low of $62.79 and a 52-week high of $84.71.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, December 4th. The bank reported $2.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.57. The company had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.61 billion. Bank of Montreal had a return on equity of 14.97% and a net margin of 16.91%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.94 EPS. As a group, equities research analysts expect that Bank of Montreal will post 7.23 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc grew its position in shares of Bank of Montreal by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 16,878,668 shares of the bank’s stock valued at $1,392,996,000 after acquiring an additional 444,234 shares during the period. Toronto Dominion Bank grew its position in shares of Bank of Montreal by 2.1% during the 3rd quarter. Toronto Dominion Bank now owns 13,796,285 shares of the bank’s stock valued at $1,138,908,000 after acquiring an additional 279,329 shares during the period. Acadian Asset Management LLC grew its position in shares of Bank of Montreal by 9.0% during the 3rd quarter. Acadian Asset Management LLC now owns 7,114,934 shares of the bank’s stock valued at $586,434,000 after acquiring an additional 586,200 shares during the period. Mackenzie Financial Corp grew its position in shares of Bank of Montreal by 5.0% during the 3rd quarter. Mackenzie Financial Corp now owns 6,819,383 shares of the bank’s stock valued at $562,804,000 after acquiring an additional 321,692 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Bank of Montreal by 7.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,456,470 shares of the bank’s stock valued at $449,739,000 after acquiring an additional 369,210 shares during the period. 43.91% of the stock is currently owned by institutional investors.

Bank of Montreal Company Profile

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.

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