Barclays Cuts Bank of Montreal (NYSE:BMO) Price Target to $126.00

Bank of Montreal (NYSE:BMO) (TSE:BMO) had its target price dropped by equities research analysts at Barclays from $132.00 to $126.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Barclays‘s target price points to a potential upside of 54.11% from the company’s previous close.

A number of other brokerages have also recently commented on BMO. Royal Bank of Canada cut Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. Bank of America cut Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their price target for the company from $134.00 to $117.00 in a research note on Wednesday. Jefferies Financial Group lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday. TD Securities downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods cut shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $137.00 to $124.00 in a research report on Monday, June 3rd. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of Montreal currently has a consensus rating of “Hold” and a consensus target price of $119.75.

Bank of Montreal Trading Down 1.8 %

Shares of NYSE BMO traded down $1.54 during mid-day trading on Wednesday, hitting $81.76. The company’s stock had a trading volume of 660,613 shares, compared to its average volume of 874,372. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $59.63 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 2.04 and a beta of 1.12. The company’s fifty day simple moving average is $84.76 and its 200-day simple moving average is $89.87. Bank of Montreal has a one year low of $73.98 and a one year high of $100.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported $2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). The business had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $8.25 billion. Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. Bank of Montreal’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.08 earnings per share. On average, sell-side analysts anticipate that Bank of Montreal will post 7.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bank of Montreal

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Bank of Montreal by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 28,073,185 shares of the bank’s stock valued at $2,777,561,000 after purchasing an additional 881,992 shares during the period. Corient Private Wealth LLC grew its holdings in shares of Bank of Montreal by 72.6% during the fourth quarter. Corient Private Wealth LLC now owns 32,603 shares of the bank’s stock worth $3,226,000 after buying an additional 13,718 shares in the last quarter. Bank of Nova Scotia Trust Co. raised its position in Bank of Montreal by 3.3% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 463,792 shares of the bank’s stock valued at $45,888,000 after buying an additional 14,735 shares during the last quarter. Intech Investment Management LLC bought a new stake in Bank of Montreal in the 1st quarter valued at approximately $3,997,000. Finally, Gulf International Bank UK Ltd boosted its position in Bank of Montreal by 7.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 4,535 shares of the bank’s stock worth $442,000 after acquiring an additional 332 shares during the last quarter. 45.82% of the stock is owned by institutional investors.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.