Bank of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by equities research analysts at CIBC from a “neutral” rating to a “sector outperform” rating in a research report issued to clients and investors on Tuesday, Briefing.com Automated Import reports. The brokerage presently has a $109.00 target price on the bank’s stock. CIBC’s price objective suggests a potential upside of 45.08% from the company’s current price.
A number of other research analysts also recently issued reports on BMO. Scotiabank reissued a “hold” rating on shares of Bank of Montreal in a report on Tuesday, August 20th. Zacks Investment Research downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a report on Monday, November 18th. Credit Suisse Group raised Bank of Montreal from an “underperform” rating to a “neutral” rating and set a $93.00 price target for the company in a report on Friday, September 6th. Finally, ValuEngine raised Bank of Montreal from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $99.50.
Shares of NYSE:BMO opened at $75.13 on Tuesday. Bank of Montreal has a 12-month low of $62.79 and a 12-month high of $79.35. The company has a market capitalization of $48.02 billion, a PE ratio of 10.75, a PEG ratio of 1.94 and a beta of 1.19. The business has a 50 day moving average of $75.45 and a two-hundred day moving average of $74.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15.
Institutional investors have recently bought and sold shares of the company. Usca Ria LLC purchased a new stake in shares of Bank of Montreal in the third quarter valued at approximately $30,000. Cerebellum GP LLC purchased a new stake in shares of Bank of Montreal in the third quarter valued at approximately $31,000. Horan Capital Advisors LLC. purchased a new stake in shares of Bank of Montreal in the third quarter valued at approximately $33,000. NEXT Financial Group Inc increased its position in shares of Bank of Montreal by 38.5% in the second quarter. NEXT Financial Group Inc now owns 518 shares of the bank’s stock valued at $39,000 after buying an additional 144 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of Bank of Montreal in the second quarter valued at approximately $74,000. Institutional investors and hedge funds own 42.09% of the company’s stock.
Bank of Montreal Company Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. 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, and specialized banking programs for small business and commercial banking customers, as well as wealth management products and services, such as insurance products.
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