Bank of Montreal (NYSE:BMO) Downgraded to Equal Weight Rating by Barclays

Barclays cut shares of Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO from an overweight rating to an equal weight rating in a report released on Monday, Marketbeat.com reports.

A number of other analysts have also recently commented on BMO. CIBC reaffirmed a "neutral" rating on shares of Bank of Montreal in a research report on Tuesday, May 20th. Cibc World Mkts lowered Bank of Montreal from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Wall Street Zen raised Bank of Montreal from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Royal Bank of Canada boosted their price target on Bank of Montreal from $161.00 to $163.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, Scotiabank initiated coverage on shares of Bank of Montreal in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $129.50.

Bank of Montreal Trading Up 0.6%

Shares of NYSE BMO traded up $0.60 during trading on Monday, reaching $108.34. The company had a trading volume of 299,464 shares, compared to its average volume of 828,149. The stock has a market cap of $78.23 billion, a P/E ratio of 15.52, a PEG ratio of 1.43 and a beta of 1.08. The company's fifty day moving average price is $99.17 and its 200-day moving average price is $98.60. 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 has a 12 month low of $76.98 and a 12 month high of $109.10.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its earnings results on Wednesday, May 28th. The bank reported $1.84 EPS for the quarter, meeting the consensus estimate of $1.84. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The business had revenue of $6.32 billion for the quarter, compared to analysts' expectations of $8.79 billion. During the same period in the prior year, the business posted $2.59 earnings per share. The firm's revenue was up 8.8% on a year-over-year basis. As a group, research analysts expect that Bank of Montreal will post 7.71 earnings per share for the current year.

Bank of Montreal Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Wednesday, July 30th will be paid a $1.1801 dividend. This represents a $4.72 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Wednesday, July 30th. This is a boost from Bank of Montreal's previous quarterly dividend of $1.11. Bank of Montreal's dividend payout ratio (DPR) is 61.48%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Bank of Montreal in the fourth quarter valued at $1,014,633,000. Goldman Sachs Group Inc. boosted its stake in Bank of Montreal by 213.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank's stock valued at $406,825,000 after purchasing an additional 2,899,061 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Bank of Montreal by 42.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank's stock valued at $664,742,000 after purchasing an additional 2,044,862 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Bank of Montreal by 15.4% during the 4th quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank's stock worth $1,184,636,000 after purchasing an additional 1,630,962 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Bank of Montreal by 66.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank's stock worth $351,154,000 after purchasing an additional 1,469,084 shares in 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.