Bank Of Montreal (BMO) Rating Reiterated by Scotiabank
Bank Of Montreal (NYSE:BMO) (TSE:BMO)‘s stock had its “buy” rating reissued by Scotiabank in a research report issued on Wednesday. They currently have a $112.00 target price on the bank’s stock. Scotiabank’s price target would indicate a potential upside of 42.95% from the stock’s current price.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Monday. Macquarie began coverage on Bank Of Montreal in a research report on Tuesday, October 24th. They set a “neutral” rating and a $81.00 price target on the stock. Canaccord Genuity set a $102.00 price target on Bank Of Montreal and gave the company a “hold” rating in a research report on Tuesday, August 29th. Finally, BidaskClub upgraded Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Bank Of Montreal currently has a consensus rating of “Hold” and an average price target of $97.60.
Shares of Bank Of Montreal (NYSE:BMO) opened at $78.35 on Wednesday. The stock has a market capitalization of $50,349.42, a price-to-earnings ratio of 12.33, a P/E/G ratio of 2.17 and a beta of 1.06. Bank Of Montreal has a 52 week low of $65.55 and a 52 week high of $78.86. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.07 and a current ratio of 1.07.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, August 29th. The bank reported $1.53 earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the business earned $1.94 EPS. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. equities analysts expect that Bank Of Montreal will post 6.35 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in BMO. Canada Pension Plan Investment Board increased its holdings in shares of Bank Of Montreal by 1,053.6% in the second quarter. Canada Pension Plan Investment Board now owns 3,060,416 shares of the bank’s stock worth $224,388,000 after buying an additional 2,795,116 shares during the period. CIBC Asset Management Inc grew its stake in shares of Bank Of Montreal by 32.5% in the third quarter. CIBC Asset Management Inc now owns 7,059,573 shares of the bank’s stock worth $532,857,000 after purchasing an additional 1,731,928 shares during the last quarter. Public Sector Pension investment Board grew its stake in shares of Bank Of Montreal by 13,359.7% in the second quarter. Public Sector Pension investment Board now owns 1,291,596 shares of the bank’s stock worth $94,699,000 after purchasing an additional 1,282,000 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Bank Of Montreal by 123.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,405,000 shares of the bank’s stock worth $103,154,000 after purchasing an additional 776,318 shares during the last quarter. Finally, Scotia Capital Inc. grew its stake in shares of Bank Of Montreal by 50.2% in the second quarter. Scotia Capital Inc. now owns 2,271,198 shares of the bank’s stock worth $166,780,000 after purchasing an additional 758,940 shares during the last quarter. Hedge funds and other institutional investors own 42.50% of the company’s stock.
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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