Bank Of Montreal (NYSE:BMO) Upgraded at Wall Street Zen

Key Points

• The Bank of Montreal was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, with eight analysts now rating the stock as a hold and one as a buy.
• The company's recent earnings report showed that it met analysts' expectations with $1.84 earnings per share and revenue of $6.32 billion for the quarter, despite a decrease in revenue year-over-year.
• Institutional investors have increased their holdings in the Bank of Montreal, with 45.82% of the stock now owned by institutional investors and hedge funds.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

BMO has been the subject of a number of other reports. Scotiabank began coverage on shares of Bank Of Montreal in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. CIBC reissued a "neutral" rating on shares of Bank Of Montreal in a report on Tuesday, May 20th. Finally, Barclays cut shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 9th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Bank Of Montreal has a consensus rating of "Hold" and an average target price of $129.50.

Bank Of Montreal Price Performance

Shares of NYSE:BMO traded up $0.55 during trading on Friday, reaching $113.33. The company had a trading volume of 267,624 shares, compared to its average volume of 665,976. Bank Of Montreal has a twelve month low of $81.13 and a twelve month high of $115.66. The firm has a market capitalization of $81.41 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.24 and a beta of 1.07. The firm's fifty day moving average is $110.82 and its 200 day moving average is $102.68. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.00 and a current ratio of 1.00.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last released its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.84. The business had revenue of $6.32 billion for the quarter, compared to analyst estimates of $8.79 billion. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The firm's revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.59 earnings per share. On average, equities analysts forecast that Bank Of Montreal will post 7.71 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC grew its position in Bank Of Montreal by 228.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank's stock valued at $26,000 after purchasing an additional 190 shares during the period. Bayforest Capital Ltd purchased a new position in Bank Of Montreal during the 1st quarter valued at about $34,000. Dunhill Financial LLC purchased a new position in Bank Of Montreal during the 4th quarter valued at about $39,000. Truvestments Capital LLC purchased a new position in shares of Bank Of Montreal during the first quarter worth about $39,000. Finally, Harbor Asset Planning Inc. purchased a new stake in Bank Of Montreal in the second quarter worth approximately $39,000. 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.