Bank of Montreal (NYSE:BMO) Cut to Sell at StockNews.com

StockNews.com cut shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO from a hold rating to a sell rating in a research report report published on Tuesday morning.

A number of other equities research analysts have also commented on BMO. CIBC raised Bank of Montreal from a "neutral" rating to a "sector outperform" rating in a research report on Friday, December 6th. Jefferies Financial Group lowered shares of Bank of Montreal from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. Scotiabank upgraded shares of Bank of Montreal from a "sector perform" rating to a "sector outperform" rating in a report on Friday, December 6th. Royal Bank of Canada restated a "sector perform" rating and set a $133.00 price objective (up from $106.00) on shares of Bank of Montreal in a report on Friday, December 6th. Finally, Cibc World Mkts raised shares of Bank of Montreal from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Bank of Montreal has an average rating of "Hold" and an average target price of $122.40.

Bank of Montreal Trading Down 0.4 %

Shares of NYSE BMO traded down $0.41 during midday trading on Tuesday, reaching $98.19. 490,171 shares of the stock were exchanged, compared to its average volume of 888,399. Bank of Montreal has a 12 month low of $76.98 and a 12 month high of $104.63. The company has a market capitalization of $71.65 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.42 and a beta of 1.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50-day simple moving average of $94.55 and a two-hundred day simple moving average of $88.73.

Bank of Montreal Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Thursday, January 30th will be given a dividend of $1.1329 per share. The ex-dividend date of this dividend is Thursday, January 30th. This is a boost from Bank of Montreal's previous quarterly dividend of $1.12. This represents a $4.53 annualized dividend and a yield of 4.62%. Bank of Montreal's payout ratio is 67.34%.

Institutional Trading of Bank of Montreal

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL bought a new position in Bank of Montreal in the second quarter valued at approximately $34,000. Rothschild Investment LLC acquired a new stake in shares of Bank of Montreal in the 2nd quarter valued at approximately $40,000. Wilmington Savings Fund Society FSB bought a new position in shares of Bank of Montreal in the third quarter valued at $45,000. GHP Investment Advisors Inc. increased its holdings in Bank of Montreal by 244.1% during the third quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank's stock worth $50,000 after buying an additional 393 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Bank of Montreal by 207.8% during the third quarter. Blue Trust Inc. now owns 668 shares of the bank's stock worth $56,000 after buying an additional 451 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company's stock.

About Bank of Montreal

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.