Bank of Montreal (NYSE:BMO) Lowered to Sell Rating by StockNews.com

StockNews.com cut shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

Several other equities research analysts have also issued reports on the company. CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, December 6th. Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating and dropped their price target for the company from $134.00 to $117.00 in a research report on Wednesday, August 28th. Jefferies Financial Group lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Barclays dropped their price target on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Finally, Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $122.40.

Bank of Montreal Stock Performance

Shares of BMO opened at $98.19 on Tuesday. The business’s 50 day moving average is $94.55 and its two-hundred day moving average is $88.73. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $104.63. The firm has a market cap of $71.65 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.42 and a beta of 1.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.11.

Bank of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Thursday, January 30th will be paid a dividend of $1.1329 per share. This is an increase from Bank of Montreal’s previous quarterly dividend of $1.12. This represents a $4.53 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Thursday, January 30th. Bank of Montreal’s dividend payout ratio is presently 67.34%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BMO. Strategic Investment Solutions Inc. IL bought a new position in shares of Bank of Montreal in the second quarter worth $34,000. Rothschild Investment LLC bought a new position in shares of Bank of Montreal in the second quarter worth $40,000. Wilmington Savings Fund Society FSB bought a new position in shares of Bank of Montreal in the third quarter worth $45,000. GHP Investment Advisors Inc. grew its stake in shares of Bank of Montreal by 244.1% in the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after purchasing an additional 393 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Bank of Montreal by 207.8% in the third quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock worth $56,000 after purchasing an additional 451 shares in the last quarter. 45.82% 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 Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.