BidaskClub Downgrades Bank Of Montreal (BMO) to Sell
Bank Of Montreal (NYSE:BMO) (TSE:BMO) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.
A number of other analysts have also weighed in on BMO. Zacks Investment Research upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, July 18th. Canaccord Genuity assumed coverage on shares of Bank Of Montreal in a report on Tuesday, July 18th. They set a “hold” rating for the company. TD Securities upgraded shares of Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. They noted that the move was a valuation call. Royal Bank Of Canada dropped their target price on shares of Bank Of Montreal to $108.00 and set a “sector perform” rating for the company in a report on Thursday, May 25th. Finally, Barclays PLC upgraded shares of Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $88.38.
Shares of Bank Of Montreal (NYSE:BMO) traded down 0.58% on Friday, reaching $72.52. The company’s stock had a trading volume of 483,050 shares. Bank Of Montreal has a 12 month low of $62.32 and a 12 month high of $78.00. The firm has a market cap of $47.28 billion, a price-to-earnings ratio of 11.45 and a beta of 1.02. The stock has a 50 day moving average of $74.86 and a 200-day moving average of $73.52.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings results on Wednesday, May 24th. The bank reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.05. Bank Of Montreal had a net margin of 19.60% and a return on equity of 14.25%. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the business posted $1.73 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. On average, analysts anticipate that Bank Of Montreal will post $6.30 EPS for the current year.
Bank Of Montreal announced that its Board of Directors has approved a stock buyback program on Thursday, April 27th that authorizes the company to repurchase 15,000,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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A number of hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board raised its stake in shares of Bank Of Montreal by 1,053.6% in the second quarter. Canada Pension Plan Investment Board now owns 3,060,416 shares of the bank’s stock valued at $224,388,000 after buying an additional 2,795,116 shares during the period. Public Sector Pension investment Board raised its stake in shares of Bank Of Montreal by 13,359.7% in the second quarter. Public Sector Pension investment Board now owns 1,291,596 shares of the bank’s stock valued at $94,699,000 after buying an additional 1,282,000 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Bank Of Montreal during the first quarter valued at approximately $72,790,000. Acadian Asset Management LLC raised its stake in shares of Bank Of Montreal by 12.8% in the first quarter. Acadian Asset Management LLC now owns 6,920,805 shares of the bank’s stock valued at $515,459,000 after buying an additional 783,569 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Bank Of Montreal by 5.4% in the second quarter. Vanguard Group Inc. now owns 14,592,498 shares of the bank’s stock valued at $1,071,673,000 after buying an additional 748,173 shares during the period. Institutional investors and hedge funds own 48.33% of the company’s stock.
About Bank Of Montreal
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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