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 published on Tuesday morning.

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 equities analysts also recently issued reports on BMO. BidaskClub upgraded shares of Bank Of Montreal from a hold rating to a buy rating in a research note on Tuesday, July 4th. Canaccord Genuity started coverage on shares of Bank Of Montreal in a research note on Tuesday, July 18th. They issued a hold rating for the company. Scotiabank restated a buy rating and issued a $101.00 price objective on shares of Bank Of Montreal in a research note on Wednesday, August 30th. Finally, Macquarie started coverage on shares of Bank Of Montreal in a research note on Tuesday, October 24th. They issued a neutral rating and a $81.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $95.40.

Shares of Bank Of Montreal (NYSE BMO) opened at $77.77 on Tuesday. The firm has a market capitalization of $50.23 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 2.15 and a beta of 1.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.07 and a current ratio of 1.07.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, August 29th. The bank reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.04). Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the prior year, the company earned $1.94 EPS. The business’s revenue was down 3.1% on a year-over-year basis. equities analysts predict that Bank Of Montreal will post 6.42 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 1st will be paid a dividend of $0.717 per share. This is an increase from Bank Of Montreal’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, October 31st. This represents a $2.87 annualized dividend and a dividend yield of 3.69%. Bank Of Montreal’s dividend payout ratio is 46.91%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Bank Of Montreal by 128.7% during the third quarter. BNP Paribas Arbitrage SA now owns 7,226 shares of the bank’s stock worth $547,000 after buying an additional 4,067 shares during the period. Advisor Partners LLC acquired a new stake in shares of Bank Of Montreal during the third quarter worth about $218,000. Lincluden Management Ltd. boosted its stake in shares of Bank Of Montreal by 12.0% during the third quarter. Lincluden Management Ltd. now owns 759,543 shares of the bank’s stock worth $57,508,000 after buying an additional 81,525 shares during the period. State of Wisconsin Investment Board boosted its stake in shares of Bank Of Montreal by 1.1% during the third quarter. State of Wisconsin Investment Board now owns 378,935 shares of the bank’s stock worth $28,611,000 after buying an additional 4,000 shares during the period. Finally, Brookstone Capital Management acquired a new stake in shares of Bank Of Montreal during the third quarter worth about $352,000. Institutional investors and hedge funds own 42.77% of the company’s stock.

About Bank Of Montreal

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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Analyst Recommendations for Bank Of Montreal (NYSE:BMO)

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