Bank Of Montreal (NYSE:BMO) Cut to “Hold” at Natl Bk Canada

Natl Bk Canada downgraded shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Several other research analysts have also issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Bank Of Montreal in a research report on Wednesday, October 8th. Cowen reiterated a “hold” rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Royal Bank Of Canada downgraded Bank Of Montreal from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $168.00 to $163.00 in a report on Friday, October 3rd. Raymond James Financial began coverage on shares of Bank Of Montreal in a research note on Monday, November 24th. They set a “market perform” rating for the company. Finally, CIBC raised shares of Bank Of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $163.00.

Bank Of Montreal Price Performance

NYSE:BMO opened at $126.72 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $125.70 and its 200 day moving average price is $118.05. Bank Of Montreal has a 52-week low of $85.40 and a 52-week high of $131.36. The firm has a market cap of $90.18 billion, a P/E ratio of 15.51, a PEG ratio of 0.82 and a beta of 0.95.

Hedge Funds Weigh In On Bank Of Montreal

A number of hedge funds have recently modified their holdings of BMO. State of Wyoming grew its position in Bank Of Montreal by 237.4% in the first quarter. State of Wyoming now owns 14,254 shares of the bank’s stock valued at $1,361,000 after acquiring an additional 10,029 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Bank Of Montreal by 66.5% during the first quarter. Canada Pension Plan Investment Board now owns 3,676,637 shares of the bank’s stock valued at $351,154,000 after acquiring an additional 1,469,084 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Bank Of Montreal during the 1st quarter worth about $1,886,000. Atlas Capital Advisors Inc. lifted its holdings in Bank Of Montreal by 1,997.9% during the 1st quarter. Atlas Capital Advisors Inc. now owns 3,986 shares of the bank’s stock valued at $381,000 after purchasing an additional 3,796 shares during the last quarter. Finally, Lorne Steinberg Wealth Management Inc. boosted its position in Bank Of Montreal by 24.1% in the second quarter. Lorne Steinberg Wealth Management Inc. now owns 92,014 shares of the bank’s stock valued at $10,204,000 after buying an additional 17,883 shares in the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

About Bank Of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.