Bank Of Montreal (NYSE:BMO) Earns Outperform Rating from Analysts at Keefe, Bruyette & Woods

Investment analysts at Keefe, Bruyette & Woods initiated coverage on shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) in a research note issued on Friday. The brokerage set an “outperform” rating on the bank’s stock.

A number of other research firms have also recently weighed in on BMO. Zacks Research cut shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Scotiabank reiterated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, June 16th. Barclays reiterated an “underweight” rating on shares of Bank Of Montreal in a research note on Friday. TD Securities restated a “buy” rating on shares of Bank Of Montreal in a research note on Wednesday, August 12th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Bank Of Montreal in a research report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Bank Of Montreal presently has a consensus rating of “Hold” and an average price target of $163.00.

Bank Of Montreal Stock Up 1.7%

Shares of NYSE BMO traded up $3.00 during trading on Friday, reaching $175.90. 46,894 shares of the stock were exchanged, compared to its average volume of 806,307. The company has a market capitalization of $122.63 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. The business’s 50-day moving average price is $177.54 and its 200 day moving average price is $158.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.11. Bank Of Montreal has a twelve month low of $112.58 and a twelve month high of $187.22.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The business had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.98 billion. During the same period last year, the business earned $2.62 EPS. The business’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that Bank Of Montreal will post 10.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Bank Of Montreal in the 4th quarter valued at approximately $1,059,320,000. Canada Pension Plan Investment Board bought a new position in Bank Of Montreal during the second quarter worth $1,281,220,000. Caisse de depot et placement du Quebec bought a new position in Bank Of Montreal during the second quarter worth $957,549,000. Bank of Nova Scotia acquired a new position in Bank Of Montreal in the second quarter worth $920,002,000. Finally, Legal & General Group Plc acquired a new position in Bank Of Montreal in the second quarter worth $744,214,000. Institutional investors and hedge funds 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.