Bank Of Montreal (BMO) Downgraded by BidaskClub
Bank Of Montreal (NYSE:BMO) (TSE:BMO) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.
A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, July 18th. Canaccord Genuity began coverage on Bank Of Montreal in a research note on Tuesday, July 18th. They set a “hold” rating for the company. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. They noted that the move was a valuation call. Royal Bank Of Canada decreased their price objective on Bank Of Montreal to $108.00 and set a “sector perform” rating for the company in a research note on Thursday, May 25th. Finally, Barclays PLC upgraded Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $88.38.
Bank Of Montreal (BMO) opened at 72.52 on Friday. The stock’s 50 day moving average price is $74.86 and its 200 day moving average price is $73.52. The company has a market capitalization of $47.28 billion, a P/E ratio of 11.45 and a beta of 1.02. Bank Of Montreal has a one year low of $62.32 and a one year high of $78.00.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Wednesday, May 24th. The bank reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.05. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Bank Of Montreal had a return on equity of 14.25% and a net margin of 19.60%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 EPS. Equities analysts anticipate that Bank Of Montreal will post $6.30 EPS for the current fiscal year.
Bank Of Montreal declared that its Board of Directors has authorized a share repurchase plan on Thursday, April 27th that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Bank Of Montreal by 85.2% in the fourth quarter. State Street Corp now owns 39,089 shares of the bank’s stock worth $2,810,000 after buying an additional 17,977 shares in the last quarter. Starfire Investment Advisers Inc. bought a new stake in Bank Of Montreal during the first quarter valued at approximately $259,000. Graybill Bartz & Assoc Ltd. raised its stake in Bank Of Montreal by 0.5% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 31,030 shares of the bank’s stock valued at $2,321,000 after buying an additional 150 shares during the period. Berkshire Asset Management LLC PA raised its stake in Bank Of Montreal by 8.8% in the first quarter. Berkshire Asset Management LLC PA now owns 102,933 shares of the bank’s stock valued at $7,698,000 after buying an additional 8,341 shares during the period. Finally, CGOV Asset Management raised its stake in Bank Of Montreal by 13.1% in the first quarter. CGOV Asset Management now owns 8,627 shares of the bank’s stock valued at $857,000 after buying an additional 1,000 shares during the period. 48.33% 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.
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