Bank Of Montreal (NYSE:BMO) Earns Outperform Rating from Analysts at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods initiated coverage of Bank of Montreal with an “outperform” rating. However, the broader analyst consensus remains “Hold,” with five Buy ratings, eight Holds and one Sell, and an average price target of $163.
• Bank of Montreal shares rose 1.7% to $175.90, giving the bank a market capitalization of approximately $122.6 billion. The stock remains below its 52-week high of $187.22.
• The bank exceeded quarterly expectations, reporting EPS of $2.68 versus the $2.54 consensus and revenue of $7.04 billion versus estimates of $6.98 billion; revenue increased 10.2% year over year.

Equities research analysts at Keefe, Bruyette & Woods initiated coverage on shares of Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO in a research report issued to clients and investors on Friday. The firm set an "outperform" rating on the bank's stock.

A number of other research firms also recently commented on BMO. Raymond James Financial reaffirmed an "outperform" rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Scotiabank restated an "outperform" rating on shares of Bank Of Montreal in a report on Tuesday, June 16th. TD Securities reaffirmed a "buy" rating on shares of Bank Of Montreal in a research report on Wednesday, August 12th. Barclays reaffirmed an "underweight" rating on shares of Bank Of Montreal in a research note on Friday. Finally, Canadian Imperial Bank of Commerce lowered shares of Bank Of Montreal from a "sector outperform" rating to a "neutral" rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bank Of Montreal currently has a consensus rating of "Hold" and an average price target of $163.00.

Bank Of Montreal Trading Up 1.7%

Bank Of Montreal stock traded up $3.00 during trading on Friday, hitting $175.90. The company's stock had a trading volume of 46,894 shares, compared to its average volume of 806,307. The stock has a market capitalization of $122.63 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 1.10 and a beta of 0.94. The stock's fifty day moving average is $177.54 and its 200 day moving average is $158.17. Bank Of Montreal has a 1-year low of $112.58 and a 1-year high of $187.22. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.02 and a current ratio of 1.02.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.54 by $0.14. The firm had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $2.62 EPS. As a group, equities research analysts predict that Bank Of Montreal will post 10.54 EPS for the current year.

Institutional Investors Weigh In On Bank Of Montreal

Several institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in Bank Of Montreal in the fourth quarter valued at about $1,059,320,000. Canada Pension Plan Investment Board purchased a new stake in shares of Bank Of Montreal in the second quarter worth about $1,281,220,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Bank Of Montreal in the second quarter worth about $957,549,000. Bank of Nova Scotia acquired a new stake in shares of Bank Of Montreal in the second quarter valued at about $920,002,000. Finally, Legal & General Group Plc acquired a new stake in shares of Bank Of Montreal in the second quarter valued at about $744,214,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of Montreal Company Profile

Bank of Montreal NYSE: BMO, commonly known as BMO Financial Group, is one of Canada's largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO's core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.

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