Zacks Investment Research lowered shares of Bank of Montreal (NYSE:BMO) from a buy rating to a hold rating in a research note released on Tuesday morning, AnalystRatingsNetwork.com reports.

According to Zacks, “Bank of Montreal is one of the largest banks in North America, is also one of Canada’s oldest banks. The bank offers a complete range of financial services in our chosen markets on both sides of the Canada-United States border. The bank offers to all of their clients not just financial products, but knowledge-based solutions, custom-made to add value in their financial affairs. “

Several other equities research analysts have also commented on BMO. Canaccord Genuity reiterated a buy rating on shares of Bank of Montreal in a research report on Tuesday, December 1st. TD Securities upgraded shares of Bank of Montreal from a hold rating to a buy rating in a research report on Wednesday, December 2nd. Barclays reiterated a sell rating on shares of Bank of Montreal in a research report on Thursday, December 3rd. RBC Capital reiterated a sector perform rating and issued a $84.00 price objective on shares of Bank of Montreal in a research report on Wednesday, December 2nd. Finally, National Bank Financial reiterated a sector perform rating and issued a $82.00 price objective (up from $76.00) on shares of Bank of Montreal in a research report on Thursday, December 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $78.17.

Several hedge funds and institutional investors recently bought and sold shares of the stock. Detwiler Fenton Investment Management bought a new position in Bank of Montreal during the fourth quarter worth approximately $271,000. Fox Run Management bought a new position in Bank of Montreal during the fourth quarter worth approximately $282,000. HL Financial Services LLC increased its position in Bank of Montreal by 0.7% in the fourth quarter. HL Financial Services LLC now owns 8,114 shares of the company’s stock worth $458,000 after buying an additional 58 shares in the last quarter. Benjamin F. Edwards & Company increased its position in Bank of Montreal by 11.0% in the fourth quarter. Benjamin F. Edwards & Company now owns 9,094 shares of the company’s stock worth $513,000 after buying an additional 900 shares in the last quarter. Finally, Ipswich Investment Management Company increased its position in Bank of Montreal by 0.6% in the fourth quarter. Ipswich Investment Management Company now owns 12,525 shares of the company’s stock worth $707,000 after buying an additional 75 shares in the last quarter.

Shares of Bank of Montreal (NYSE:BMO) traded down 0.26% during midday trading on Tuesday, hitting $52.90. 580,326 shares of the company’s stock were exchanged. The firm has a market cap of $34.01 billion and a PE ratio of 11.37. The stock’s 50-day moving average price is $53.86 and its 200 day moving average price is $55.50. Bank of Montreal has a one year low of $47.54 and a one year high of $67.01.

Bank of Montreal (NYSE:BMO) last posted its quarterly earnings results on Tuesday, December 1st. The company reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.16. The company had revenue of $4.72 billion for the quarter. During the same quarter in the previous year, the business posted $1.63 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts forecast that Bank of Montreal will post $7.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 26th. Stockholders of record on Monday, February 1st will be paid a dividend of $0.6318 per share. This represents a $2.53 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date is Thursday, January 28th.

Bank of Montreal (NYSE:BMO) is a financial services company. The Bank provides a range of retail banking, wealth management, and investment banking products and services. It conducts its business through three operating groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets. The Bank operates primarily in Canada and the United States. It also has operations in the United Kingdom, Europe, the Caribbean and Asia. It also serves customers through its wealth management businesses: BMO Nesbitt Burns, BMO InvestorLine, BMO Private Banking, BMO Global Asset Management and BMO Insurance. BMO Capital Markets, its investment and corporate banking and trading products division, provides a suite of financial products and services to North American and international clients. In the United States, BMO serves customers through BMO Harris Bank, based in the United States Midwest with more than two million retail, small business and commercial customers.

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