Zacks Investment Research Lowers Bank of Montreal (NYSE:BMO) to Hold

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Bank of Montreal is one of the largest banks in North America, is also one of Canada’s oldest banks. The bank offers a complete range of financial services in our chosen markets on both sides of the Canada-United States border. The bank offers to all of their clients not just financial products, but knowledge-based solutions, custom-made to add value in their financial affairs. “

Other research analysts also recently issued reports about the stock. National Bank Financial downgraded shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 7th. Stifel Nicolaus decreased their target price on shares of Bank of Montreal from C$172.00 to C$171.00 and set a “buy” rating on the stock in a research note on Friday, April 8th. StockNews.com initiated coverage on shares of Bank of Montreal in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. TD Securities lifted their target price on shares of Bank of Montreal from C$170.00 to C$175.00 and gave the stock a “buy” rating in a research note on Wednesday, March 2nd. Finally, Barclays lifted their target price on shares of Bank of Montreal from C$167.00 to C$171.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 2nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Bank of Montreal has an average rating of “Buy” and an average price target of $158.71.

Shares of BMO stock traded down $3.66 during trading hours on Tuesday, hitting $108.37. 1,806,584 shares of the company’s stock were exchanged, compared to its average volume of 882,323. The company has a market capitalization of $72.79 billion, a PE ratio of 10.46, a PEG ratio of 1.50 and a beta of 1.20. Bank of Montreal has a 12-month low of $93.19 and a 12-month high of $122.77. The business’s 50 day simple moving average is $116.03 and its 200-day simple moving average is $112.62. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16.

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) last posted its quarterly earnings results on Tuesday, March 1st. The bank reported $3.07 EPS for the quarter, topping the consensus estimate of $2.60 by $0.47. The firm had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. Bank of Montreal had a net margin of 26.09% and a return on equity of 17.71%. The business’s revenue was up 19.9% compared to the same quarter last year. During the same period last year, the firm posted $2.38 earnings per share. Equities analysts anticipate that Bank of Montreal will post 10.67 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Johnson Midwest Financial LLC purchased a new position in shares of Bank of Montreal in the 4th quarter worth about $31,000. Glassman Wealth Services raised its position in shares of Bank of Montreal by 56.3% in the 4th quarter. Glassman Wealth Services now owns 286 shares of the bank’s stock worth $31,000 after purchasing an additional 103 shares during the last quarter. DeDora Capital Inc. purchased a new position in shares of Bank of Montreal in the 1st quarter worth about $32,000. CWM LLC raised its position in shares of Bank of Montreal by 163.8% in the 1st quarter. CWM LLC now owns 277 shares of the bank’s stock worth $33,000 after purchasing an additional 172 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd raised its position in shares of Bank of Montreal by 54.1% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 393 shares of the bank’s stock worth $42,000 after purchasing an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 41.52% of the company’s stock.

Bank of Montreal Company Profile (Get Rating)

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

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