Bank of Montreal (NYSE:BMO) Stock Rating Upgraded by CIBC

Bank of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by equities research analysts at CIBC from a “neutral” rating to a “sector outperform” rating in a research report issued to clients and investors on Tuesday, Briefing.com Automated Import reports. The brokerage presently has a $109.00 target price on the bank’s stock. CIBC’s price objective suggests a potential upside of 45.08% from the company’s current price.

A number of other research analysts also recently issued reports on BMO. Scotiabank reissued a “hold” rating on shares of Bank of Montreal in a report on Tuesday, August 20th. Zacks Investment Research downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a report on Monday, November 18th. Credit Suisse Group raised Bank of Montreal from an “underperform” rating to a “neutral” rating and set a $93.00 price target for the company in a report on Friday, September 6th. Finally, ValuEngine raised Bank of Montreal from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $99.50.

Shares of NYSE:BMO opened at $75.13 on Tuesday. Bank of Montreal has a 12-month low of $62.79 and a 12-month high of $79.35. The company has a market capitalization of $48.02 billion, a PE ratio of 10.75, a PEG ratio of 1.94 and a beta of 1.19. The business has a 50 day moving average of $75.45 and a two-hundred day moving average of $74.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, December 3rd. The bank reported $2.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.61. Bank of Montreal had a return on equity of 14.14% and a net margin of 16.48%. The company had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.86 billion. During the same period in the previous year, the company posted $2.32 earnings per share. Bank of Montreal’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts predict that Bank of Montreal will post 7.13 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Usca Ria LLC purchased a new stake in shares of Bank of Montreal in the third quarter valued at approximately $30,000. Cerebellum GP LLC purchased a new stake in shares of Bank of Montreal in the third quarter valued at approximately $31,000. Horan Capital Advisors LLC. purchased a new stake in shares of Bank of Montreal in the third quarter valued at approximately $33,000. NEXT Financial Group Inc increased its position in shares of Bank of Montreal by 38.5% in the second quarter. NEXT Financial Group Inc now owns 518 shares of the bank’s stock valued at $39,000 after buying an additional 144 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of Bank of Montreal in the second quarter valued at approximately $74,000. Institutional investors and hedge funds own 42.09% of the company’s stock.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.

Featured Article: Put Option

Analyst Recommendations for Bank of Montreal (NYSE:BMO)

Receive News & Ratings for Bank of Montreal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Montreal and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit