Bank of Montreal (NYSE:BMO) Upgraded to “Strong-Buy” at Cibc World Mkts

Bank of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Barclays cut their price objective on Bank of Montreal from $132.00 to $126.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Bank of America downgraded 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 report on Wednesday, August 28th. CIBC upgraded shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday. Finally, TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $122.40.

Bank of Montreal Trading Up 3.8 %

NYSE BMO opened at $103.40 on Friday. The firm’s 50 day moving average price is $93.07 and its two-hundred day moving average price is $88.38. The stock has a market cap of $75.44 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 2.59 and a beta of 1.10. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $104.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98.

Hedge Funds Weigh In On Bank of Montreal

A number of hedge funds have recently made changes to their positions in BMO. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Bank of Montreal by 261.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,249,552 shares of the bank’s stock valued at $383,449,000 after acquiring an additional 3,074,389 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Bank of Montreal by 138.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,851,629 shares of the bank’s stock worth $407,282,000 after purchasing an additional 2,816,385 shares during the period. Toronto Dominion Bank grew its stake in shares of Bank of Montreal by 14.9% in the 3rd quarter. Toronto Dominion Bank now owns 11,812,353 shares of the bank’s stock valued at $1,065,474,000 after purchasing an additional 1,534,508 shares during the period. JARISLOWSKY FRASER Ltd grew its stake in shares of Bank of Montreal by 36.9% in the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 5,239,662 shares of the bank’s stock valued at $439,705,000 after purchasing an additional 1,412,532 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Bank of Montreal in the 2nd quarter worth approximately $80,915,000. Institutional investors and hedge funds own 45.82% of the company’s stock.

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.