TD Securities downgraded shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) from a buy rating to a hold rating in a report released on Tuesday morning, The Fly reports.

A number of other research firms have also commented on BMO. ValuEngine lowered Bank of Montreal from a hold rating to a sell rating in a research report on Thursday, November 1st. Zacks Investment Research lowered Bank of Montreal from a buy rating to a hold rating in a research report on Tuesday, October 30th. Canaccord Genuity restated a buy rating on shares of Bank of Montreal in a research report on Thursday, November 22nd. Finally, Barclays restated a hold rating on shares of Bank of Montreal in a research report on Friday, November 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $106.00.

BMO stock opened at $69.76 on Tuesday. Bank of Montreal has a 1-year low of $69.00 and a 1-year high of $84.71. The company has a market capitalization of $44.90 billion, a PE ratio of 9.98, a P/E/G ratio of 1.63 and a beta of 1.11. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.16 and a current ratio of 1.17.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Tuesday, December 4th. The bank reported $2.32 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.57. The company had revenue of $5.92 billion for 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 company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.94 EPS. Analysts forecast that Bank of Montreal will post 7.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Investors of record on Friday, February 1st will be given a dividend of $0.753 per share. The ex-dividend date is Thursday, January 31st. This is a positive change from Bank of Montreal’s previous quarterly dividend of $0.74. This represents a $3.01 dividend on an annualized basis and a yield of 4.32%. Bank of Montreal’s dividend payout ratio is 41.77%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intact Investment Management Inc. lifted its holdings in Bank of Montreal by 12.7% during the 3rd quarter. Intact Investment Management Inc. now owns 283,223 shares of the bank’s stock worth $30,175,000 after buying an additional 32,000 shares in the last quarter. Strs Ohio lifted its holdings in Bank of Montreal by 254.9% during the 3rd quarter. Strs Ohio now owns 624,600 shares of the bank’s stock worth $51,481,000 after buying an additional 448,600 shares in the last quarter. Raymond James & Associates lifted its holdings in Bank of Montreal by 3.6% during the 2nd quarter. Raymond James & Associates now owns 107,650 shares of the bank’s stock worth $8,319,000 after buying an additional 3,717 shares in the last quarter. Twin Tree Management LP lifted its holdings in Bank of Montreal by 180.9% during the 2nd quarter. Twin Tree Management LP now owns 57,533 shares of the bank’s stock worth $4,445,000 after buying an additional 37,049 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Bank of Montreal by 89.6% during the 2nd quarter. Renaissance Technologies LLC now owns 909,295 shares of the bank’s stock worth $70,268,000 after buying an additional 429,800 shares in the last quarter. Institutional investors and hedge funds own 43.89% of the company’s stock.

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.

Read More: Return on Equity (ROE)

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Analyst Recommendations for Bank of Montreal (NYSE:BMO)

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