Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, Zacks.com reports.
According to Zacks, “The Bank of Montreal is one of the largest banks in North America, it is also one of the oldest banks in Canada. The bank offers a full range of financial services in our select markets on both sides of the Canada-US border. The bank offers all its customers not only financial products, but knowledge-based solutions, tailor-made to add value to their financial affairs. “
A number of other equity research analysts also weighed in on BMO. Stifel Europe raised its target price on Bank of Montreal from CA$170.00 to CA$172.00 and gave the company a “buy” rating in a Wednesday, March 2 research note. Barclays raised its price target on Bank of Montreal from C$167.00 to C$171.00 and gave the company an “overweight” rating in a Wednesday, March 2 report. BMO Capital Markets raised its target price on Bank of Montreal from C$161.00 to C$163.00 in a report released Thursday, March 31. Scotiabank upgraded Bank of Montreal from an “sector outperform” rating to an “sector outperform” rating and raised its price target for the stock from $165.00 to $169.00 in a research note from Wednesday, March 2. Finally, Royal Bank of Canada upgraded Bank of Montreal from a “sector performance” rating to an “outperform” rating and raised its price target for the company from $154.00 to $160.00. $ in a research report from Tuesday, December 21. Four equity research analysts gave the stock a hold rating and eleven gave the stock a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $159.21.
NYSE: BMO lost $0.82 during Monday trading hours, hitting $114.50. The stock had a trading volume of 668,498 shares, compared to an average trading volume of 903,061. The stock has a market capitalization of $76.88 billion, a P/E ratio of 11.05, a price ratio of / earnings growth of 1.49 and a beta of 1.20. Bank of Montreal has a 12-month low of $88.98 and a 12-month high of $122.77. The company has a debt ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50-day simple moving average of $116.79 and a 200-day simple moving average of $111.68.
Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) last reported quarterly results on Tuesday, March 1. The bank reported earnings per share of $3.07 for the quarter, beating Thomson Reuters consensus estimate of $2.60 by $0.47. The company posted revenue of $7.64 billion in the quarter, compared to $6.67 billion expected by analysts. Bank of Montreal had a return on equity of 17.71% and a net margin of 26.09%. The company’s quarterly revenue increased by 19.9% compared to the same quarter last year. In the same period a year earlier, the company had earned earnings per share of $2.38. On average, stock analysts expect Bank of Montreal to post earnings per share of 10.65 for the current fiscal year.
A number of institutional investors have recently changed their holdings in BMO. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new equity stake in Bank of Montreal in Q3 for $25,000. Johnson Midwest Financial LLC acquired a new stake in shares of Bank of Montreal in the fourth quarter valued at approximately $31,000. Glassman Wealth Services increased its position in Bank of Montreal by 56.3% during the fourth quarter. Glassman Wealth Services now owns 286 shares of the bank worth $31,000 after acquiring 103 more shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd increased its position in Bank of Montreal by 54.1% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 393 shares in the bank worth $42,000 after acquiring 138 more shares in the last quarter. Finally, Duncker Streett & Co. Inc. acquired a new position in Bank of Montreal during the third quarter worth approximately $52,000. 41.52% of the shares are currently held by institutional investors.
About Bank of Montreal (Get an assessment)
Bank of Montreal offers diversified financial services primarily in North America. The Company’s personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial advisory and investment services; and commercial banking products and services include business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialty banking programs, treasury solutions and payment and risk management products for small business and commercial bank customers.
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