Bank of Montreal (BMO) Lowered to “Sell” at ValuEngine

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ValuEngine downgraded shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) from a hold rating to a sell rating in a research report sent to investors on Thursday.

BMO has been the topic of a number of other research reports. Canaccord Genuity raised Bank of Montreal from a hold rating to a buy rating in a research note on Wednesday, August 29th. BMO Capital Markets raised Bank of Montreal to a $78.97 rating in a research note on Wednesday, July 18th. Zacks Investment Research lowered Bank of Montreal from a buy rating to a hold rating in a research note on Monday, August 13th. Finally, Royal Bank of Canada raised Bank of Montreal from a sector perform rating to an outperform rating and set a $120.00 price target on the stock in a research note on Wednesday, July 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $106.50.

BMO stock traded up $0.46 on Thursday, reaching $75.59. The company had a trading volume of 4,176 shares, compared to its average volume of 906,391. Bank of Montreal has a 1 year low of $73.79 and a 1 year high of $84.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $48.11 billion, a P/E ratio of 12.04, a PEG ratio of 1.23 and a beta of 1.10.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 28th. The bank reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.07. Bank of Montreal had a return on equity of 14.75% and a net margin of 16.17%. The firm had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.45 billion. On average, research analysts predict that Bank of Montreal will post 6.93 earnings per share for the current 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. This represents a $2.95 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Wednesday, October 31st. Bank of Montreal’s dividend payout ratio is presently 46.79%.

Several institutional investors have recently modified their holdings of BMO. BDO Wealth Advisors LLC purchased a new position in shares of Bank of Montreal during the 2nd quarter worth $105,000. AdvisorNet Financial Inc increased its holdings in shares of Bank of Montreal by 148.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,526 shares of the bank’s stock worth $118,000 after buying an additional 911 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of Bank of Montreal during the 3rd quarter worth $142,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Bank of Montreal during the 2nd quarter worth $155,000. Finally, Zions Bancorporation acquired a new stake in shares of Bank of Montreal during the 3rd quarter worth $175,000. 43.42% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Bank of Montreal (NYSE:BMO)

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