Zacks Research Upgrades Bank Of Montreal (NYSE:BMO) to “Strong-Buy”

Bank Of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

A number of other analysts have also recently commented on BMO. Raymond James Financial upgraded Bank Of Montreal from a “market perform” rating to an “outperform” rating in a research report on Friday, February 13th. Scotiabank reiterated a “sector perform” rating on shares of Bank Of Montreal in a research note on Friday, January 9th. TD Securities upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a research note on Tuesday, January 27th. Wall Street Zen raised shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Finally, National Bank Financial lowered shares of Bank Of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.00.

Bank Of Montreal Stock Up 1.7%

BMO opened at $145.97 on Thursday. The firm’s 50 day simple moving average is $135.95 and its two-hundred day simple moving average is $128.10. The company has a market capitalization of $103.09 billion, a PE ratio of 17.89, a PEG ratio of 1.00 and a beta of 0.94. Bank Of Montreal has a 1-year low of $85.40 and a 1-year high of $146.35. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Thursday, December 4th. The bank reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.20. Bank Of Montreal had a net margin of 11.13% and a return on equity of 11.76%. The firm had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter in the previous year, the firm posted $1.90 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts forecast that Bank Of Montreal will post 7.71 EPS for the current year.

Hedge Funds Weigh In On Bank Of Montreal

Several institutional investors have recently bought and sold shares of BMO. AQR Capital Management LLC lifted its stake in Bank Of Montreal by 87.1% in the 1st quarter. AQR Capital Management LLC now owns 5,742 shares of the bank’s stock worth $548,000 after purchasing an additional 2,673 shares in the last quarter. Ethic Inc. bought a new stake in shares of Bank Of Montreal in the second quarter worth about $204,000. Carnegie Investment Counsel lifted its position in shares of Bank Of Montreal by 3.0% in the second quarter. Carnegie Investment Counsel now owns 22,701 shares of the bank’s stock worth $2,511,000 after buying an additional 661 shares in the last quarter. 180 Wealth Advisors LLC bought a new position in Bank Of Montreal during the second quarter valued at approximately $230,000. Finally, Focus Partners Advisor Solutions LLC grew its holdings in Bank Of Montreal by 4.5% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 2,616 shares of the bank’s stock valued at $289,000 after buying an additional 112 shares in the last quarter. 45.82% of the stock is owned by hedge funds and other institutional investors.

Bank Of Montreal Company Profile

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.