Bank Of Montreal (BMO) Earns Buy Rating from Scotiabank
Bank Of Montreal (NYSE:BMO) (TSE:BMO)‘s stock had its “buy” rating reissued by Scotiabank in a research note issued on Wednesday. They presently have a $112.00 target price on the bank’s stock. Scotiabank’s price objective would suggest a potential upside of 42.95% from the stock’s previous close.
Several other analysts also recently weighed in on BMO. BidaskClub downgraded shares of Bank Of Montreal from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Canaccord Genuity set a $102.00 price target on shares of Bank Of Montreal and gave the company a “hold” rating in a research note on Tuesday, August 29th. Macquarie started coverage on shares of Bank Of Montreal in a research note on Tuesday, October 24th. They set a “neutral” rating and a $81.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Bank Of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $97.60.
Bank Of Montreal (NYSE:BMO) traded up $0.77 during trading on Wednesday, hitting $78.35. 362,700 shares of the stock traded hands, compared to its average volume of 425,309. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Bank Of Montreal has a 1 year low of $65.55 and a 1 year high of $78.86. The company has a market capitalization of $50,349.42, a P/E ratio of 12.33, a PEG ratio of 2.17 and a beta of 1.06.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Tuesday, August 29th. The bank reported $1.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($0.04). Bank Of Montreal had a net margin of 20.04% and a return on equity of 14.36%. The company had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the prior year, the firm posted $1.94 EPS. The business’s revenue was down 3.1% on a year-over-year basis. research analysts expect that Bank Of Montreal will post 6.35 earnings per share for the current year.
A number of large investors have recently modified their holdings of BMO. US Bancorp DE raised its stake in Bank Of Montreal by 1.4% in the second quarter. US Bancorp DE now owns 65,829 shares of the bank’s stock worth $4,835,000 after buying an additional 893 shares in the last quarter. Huntington National Bank increased its position in shares of Bank Of Montreal by 12.2% during the second quarter. Huntington National Bank now owns 2,713 shares of the bank’s stock worth $200,000 after purchasing an additional 294 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Bank Of Montreal by 5.4% during the second quarter. Acadian Asset Management LLC now owns 7,292,805 shares of the bank’s stock worth $534,707,000 after purchasing an additional 372,000 shares in the last quarter. Lincluden Management Ltd. increased its position in shares of Bank Of Montreal by 8.6% during the second quarter. Lincluden Management Ltd. now owns 678,018 shares of the bank’s stock worth $51,271,000 after purchasing an additional 53,837 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Bank Of Montreal during the second quarter worth $307,000. 42.50% of the stock is owned by institutional investors.
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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