TD Securities Trims Bank of Montreal (NYSE:BMO) Target Price to C$155.00

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) had its target price reduced by investment analysts at TD Securities from C$160.00 to C$155.00 in a research note issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the bank’s stock.

Several other analysts have also commented on the stock. Zacks Investment Research lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, April 26th. Desjardins increased their target price on shares of Bank of Montreal from C$157.00 to C$161.00 in a research note on Thursday, March 3rd. National Bank Financial downgraded shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 7th. Credit Suisse Group initiated coverage on shares of Bank of Montreal in a research report on Friday, May 20th. They issued an “outperform” rating for the company. Finally, StockNews.com initiated coverage on shares of Bank of Montreal in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Bank of Montreal currently has an average rating of “Buy” and a consensus price target of $157.29.

Shares of Bank of Montreal stock traded up $2.21 on Thursday, hitting $105.87. The company had a trading volume of 38,553 shares, compared to its average volume of 871,612. The business has a 50-day simple moving average of $111.34 and a 200-day simple moving average of $111.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $71.11 billion, a PE ratio of 10.22, a PEG ratio of 1.42 and a beta of 1.19. Bank of Montreal has a 52 week low of $95.37 and a 52 week high of $122.77.

Bank of Montreal (NYSE:BMOGet Rating) (TSE:BMO) last released its earnings results on Wednesday, May 25th. The bank reported $3.23 EPS for the quarter, beating the consensus estimate of $2.60 by $0.63. Bank of Montreal had a net margin of 26.09% and a return on equity of 17.71%. The business had revenue of $9.32 billion during the quarter, compared to analyst estimates of $6.69 billion. During the same period in the prior year, the business earned $2.49 earnings per share. The business’s quarterly revenue was up 53.3% on a year-over-year basis. On average, equities research analysts predict that Bank of Montreal will post 10.44 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. SRS Capital Advisors Inc. increased its stake in shares of Bank of Montreal by 14.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 743 shares of the bank’s stock worth $80,000 after purchasing an additional 95 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in shares of Bank of Montreal by 2.7% during the 1st quarter. Great Valley Advisor Group Inc. now owns 3,716 shares of the bank’s stock worth $438,000 after purchasing an additional 97 shares during the last quarter. Wendell David Associates Inc. increased its stake in shares of Bank of Montreal by 4.2% during the 1st quarter. Wendell David Associates Inc. now owns 2,500 shares of the bank’s stock worth $295,000 after purchasing an additional 100 shares during the last quarter. Glassman Wealth Services increased its stake in shares of Bank of Montreal by 56.3% during 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. Finally, Cetera Investment Advisers increased its stake in shares of Bank of Montreal by 3.1% during the 4th quarter. Cetera Investment Advisers now owns 3,776 shares of the bank’s stock worth $407,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 39.47% of the company’s stock.

About Bank of Montreal (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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