Wall Street Zen Upgrades Bank Of Montreal (NYSE:BMO) to “Hold”

Bank Of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Several other equities analysts also recently weighed in on BMO. Natl Bk Canada downgraded Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. TD Securities raised Bank Of Montreal from a “hold” rating to a “buy” rating in a research report on Tuesday, January 27th. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Bank Of Montreal in a research note on Monday, December 29th. Finally, Raymond James Financial assumed coverage on shares of Bank Of Montreal in a report on Monday, November 24th. They set a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Stock Performance

BMO opened at $144.65 on Friday. The company’s 50 day moving average is $133.33 and its 200 day moving average is $126.39. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The company has a market cap of $102.35 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.17 and a beta of 0.94. Bank Of Montreal has a 12-month low of $85.40 and a 12-month high of $144.82.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Thursday, December 4th. The bank reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.20. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The business had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same period last year, the firm earned $1.90 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Bank Of Montreal will post 7.71 EPS for the current year.

Hedge Funds Weigh In On Bank Of Montreal

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in Bank Of Montreal by 87.1% in the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock valued at $548,000 after acquiring an additional 2,673 shares during the last quarter. Blair William & Co. IL grew its position in shares of Bank Of Montreal by 94.0% during the second quarter. Blair William & Co. IL now owns 9,475 shares of the bank’s stock valued at $1,048,000 after purchasing an additional 4,591 shares in the last quarter. PDS Planning Inc increased its holdings in shares of Bank Of Montreal by 6.9% in the second quarter. PDS Planning Inc now owns 4,335 shares of the bank’s stock worth $480,000 after purchasing an additional 279 shares during the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of Bank Of Montreal in the second quarter worth about $222,000. Finally, Riverpoint Wealth Management Holdings LLC bought a new position in Bank Of Montreal during the second quarter valued at approximately $230,000. Institutional investors own 45.82% of the company’s stock.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.