A number of other brokerages have also commented on BMO. Zacks Investment Research lowered Bank of Montreal from a “buy” rating to a “sell” rating in a research note on Tuesday, April 30th. ValuEngine raised Bank of Montreal from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Bank of America lowered Bank of Montreal from a “neutral” rating to an “underperform” rating in a research note on Monday, January 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $105.33.
Shares of Bank of Montreal stock traded down $0.42 on Friday, hitting $76.80. The stock had a trading volume of 379,800 shares, compared to its average volume of 498,031. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.03 and a current ratio of 1.03. Bank of Montreal has a one year low of $62.79 and a one year high of $84.36. The stock has a market capitalization of $49.23 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 2.20 and a beta of 1.18.
Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, February 26th. The bank reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.06. Bank of Montreal had a return on equity of 14.89% and a net margin of 17.43%. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same quarter last year, the firm posted $2.12 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts forecast that Bank of Montreal will post 7.18 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd lifted its stake in Bank of Montreal by 75.5% in the first quarter. BlueCrest Capital Management Ltd now owns 7,285 shares of the bank’s stock worth $545,000 after acquiring an additional 3,133 shares during the period. HighTower Advisors LLC lifted its position in Bank of Montreal by 2.7% during the first quarter. HighTower Advisors LLC now owns 65,372 shares of the bank’s stock valued at $4,843,000 after buying an additional 1,732 shares during the period. RMB Capital Management LLC lifted its position in Bank of Montreal by 43.9% during the first quarter. RMB Capital Management LLC now owns 9,817 shares of the bank’s stock valued at $734,000 after buying an additional 2,995 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in Bank of Montreal by 7.5% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,046 shares of the bank’s stock valued at $607,000 after buying an additional 561 shares during the period. Finally, Man Group plc lifted its position in Bank of Montreal by 49.6% during the first quarter. Man Group plc now owns 471,491 shares of the bank’s stock valued at $35,288,000 after buying an additional 156,391 shares during the period. 44.33% of the stock is owned by institutional investors.
About Bank of Montreal
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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