Bank Of Montreal (BMO) Raised to “Hold” at Zacks Investment Research

Bank Of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

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 recently issued reports on BMO. BidaskClub cut Bank Of Montreal from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Canaccord Genuity set a $102.00 price objective on Bank Of Montreal and gave the stock a “hold” rating in a report on Tuesday, August 29th. Scotiabank reiterated a “buy” rating and issued a $101.00 price objective on shares of Bank Of Montreal in a report on Wednesday, August 30th. Finally, Macquarie initiated coverage on Bank Of Montreal in a report on Tuesday, October 24th. They issued a “neutral” rating and a $81.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Bank Of Montreal has an average rating of “Hold” and an average target price of $95.40.

Bank Of Montreal (NYSE:BMO) traded down $0.23 during trading hours on Monday, hitting $77.33. The stock had a trading volume of 309,578 shares, compared to its average volume of 426,617. Bank Of Montreal has a 52-week low of $64.55 and a 52-week high of $78.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $50,250.00, a PE ratio of 12.33, a PEG ratio of 2.17 and a beta of 1.06.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its earnings results on Tuesday, August 29th. The bank reported $1.53 EPS for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($0.04). Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the business earned $1.94 earnings per share. Bank Of Montreal’s revenue was down 3.1% on a year-over-year basis. equities research analysts expect that Bank Of Montreal will post 6.39 earnings per share for the current year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aperio Group LLC lifted its stake in Bank Of Montreal by 2.3% in the 3rd quarter. Aperio Group LLC now owns 403,344 shares of the bank’s stock worth $30,537,000 after purchasing an additional 9,170 shares in the last quarter. USS Investment Management Ltd purchased a new position in Bank Of Montreal in the 2nd quarter worth approximately $6,314,000. Blair William & Co. IL lifted its stake in Bank Of Montreal by 6.5% in the 2nd quarter. Blair William & Co. IL now owns 16,738 shares of the bank’s stock worth $1,229,000 after purchasing an additional 1,023 shares in the last quarter. Intact Investment Management Inc. lifted its stake in Bank Of Montreal by 106.6% in the 2nd quarter. Intact Investment Management Inc. now owns 575,323 shares of the bank’s stock worth $54,782,000 after purchasing an additional 296,840 shares in the last quarter. Finally, Dana Investment Advisors Inc. lifted its stake in Bank Of Montreal by 22.3% in the 2nd quarter. Dana Investment Advisors Inc. now owns 7,906 shares of the bank’s stock worth $581,000 after purchasing an additional 1,442 shares in the last quarter. 42.50% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Company Profile

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

Analyst Recommendations for Bank Of Montreal (NYSE:BMO)

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