Bank Of Montreal (NYSE:BMO) Upgraded by Cibc World Mkts to Strong-Buy Rating

Key Points

• Bank of Montreal has been upgraded by CIBC World Markets from a "hold" rating to a "strong-buy" rating, indicating increased confidence from analysts.
• The bank reported $2.33 EPS for the last quarter, surpassing analysts' expectations of $2.12, though revenue fell short at $6.51 billion compared to expected $8.84 billion.
• Despite mixed ratings from various analysts, the consensus rating for Bank of Montreal is a "Moderate Buy" with an average target price of $168.00.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO was upgraded by research analysts at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other analysts have also recently weighed in on BMO. Scotiabank reaffirmed a "sector perform" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Barclays cut shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. UBS Group reaffirmed a "neutral" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. Cowen reiterated a "hold" rating on shares of Bank Of Montreal in a research note on Wednesday, August 27th. Finally, National Bankshares reiterated an "outperform" rating on shares of Bank Of Montreal in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $168.00.

Bank Of Montreal Trading Up 0.7%

NYSE BMO opened at $126.10 on Friday. The firm's 50-day moving average is $114.66 and its two-hundred day moving average is $104.95. Bank Of Montreal has a 12 month low of $81.69 and a 12 month high of $127.20. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $90.33 billion, a P/E ratio of 15.43, a PEG ratio of 1.29 and a beta of 1.04.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its earnings results on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.21. The company had revenue of $6.51 billion for the quarter, compared to analysts' expectations of $8.84 billion. Bank Of Montreal had a net margin of 11.00% and a return on equity of 10.57%. Bank Of Montreal's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.64 earnings per share. On average, sell-side analysts anticipate that Bank Of Montreal will post 7.71 earnings per share for the current year.

Institutional Investors Weigh In On Bank Of Montreal

Hedge funds and other institutional investors have recently bought and sold shares of the business. WFA of San Diego LLC acquired a new stake in Bank Of Montreal in the second quarter valued at $28,000. Cary Street Partners Investment Advisory LLC raised its stake in shares of Bank Of Montreal by 228.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock worth $26,000 after buying an additional 190 shares during the last quarter. Princeton Global Asset Management LLC raised its stake in shares of Bank Of Montreal by 40.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 350 shares of the bank's stock worth $39,000 after buying an additional 100 shares during the last quarter. Harbor Asset Planning Inc. acquired a new position in shares of Bank Of Montreal during the 2nd quarter worth $39,000. Finally, Bayforest Capital Ltd acquired a new position in shares of Bank Of Montreal during the 1st quarter worth $34,000. Institutional investors and hedge funds own 45.82% of the company's stock.

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.

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