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

Bank of Montreal (NYSE:BMO) (TSE:BMO) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

BMO has been the topic of several other research reports. Scotiabank raised shares of Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. CIBC upgraded Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a report on Friday, December 6th. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $133.00 to $161.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of Montreal presently has a consensus rating of “Hold” and an average price target of $128.00.

Bank of Montreal Stock Performance

Shares of BMO stock traded down $0.08 during mid-day trading on Thursday, hitting $100.91. 352,617 shares of the stock were exchanged, compared to its average volume of 579,258. The stock’s fifty day simple moving average is $98.62 and its two-hundred day simple moving average is $93.07. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. Bank of Montreal has a 12-month low of $76.98 and a 12-month high of $104.63. The stock has a market capitalization of $73.55 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 1.44 and a beta of 1.09.

Hedge Funds Weigh In On Bank of Montreal

Several large investors have recently bought and sold shares of BMO. IFP Advisors Inc lifted its stake in shares of Bank of Montreal by 179.5% in the 4th quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock valued at $30,000 after purchasing an additional 201 shares during the period. Addison Advisors LLC lifted its stake in Bank of Montreal by 282.8% in the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock valued at $32,000 after buying an additional 246 shares during the period. Vision Financial Markets LLC acquired a new position in Bank of Montreal in the fourth quarter valued at about $39,000. Dunhill Financial LLC bought a new position in Bank of Montreal during the fourth quarter worth about $39,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Bank of Montreal during the 3rd quarter worth about $45,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

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.