Log in

Bank of Montreal (NYSE:BMO) Upgraded to "Hold" at ValuEngine

Last updated on Thursday, July 2nd, 2020 by MarketBeat

Bank of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by equities researchers at ValuEngine from a "sell" rating to a "hold" rating in a research note issued on Thursday, ValuEngine reports.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Bank of Montreal from a "sell" rating to a "hold" rating in a report on Wednesday, May 27th. TD Securities cut shares of Bank of Montreal from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, April 28th. Bank of America upped their price objective on shares of Bank of Montreal from $53.00 to $75.00 and gave the stock an "underperform" rating in a research report on Wednesday, May 13th. Royal Bank of Canada reiterated a "market perform" rating on shares of Bank of Montreal in a research report on Friday, May 29th. Finally, National Bank Financial cut shares of Bank of Montreal from an "outperform" rating to a "sector perform" rating and set a $75.00 price objective for the company. in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Bank of Montreal currently has an average rating of "Hold" and an average price target of $80.30.

NYSE BMO opened at $52.57 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $34.11 billion, a P/E ratio of 9.32, a P/E/G ratio of 2.23 and a beta of 1.10. Bank of Montreal has a 12-month low of $38.31 and a 12-month high of $79.93. The firm has a 50-day moving average price of $51.62 and a two-hundred day moving average price of $61.44.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last posted its quarterly earnings data on Wednesday, May 27th. The bank reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.94 by $0.10. Bank of Montreal had a net margin of 13.51% and a return on equity of 11.85%. The firm had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.99 billion. During the same quarter in the previous year, the firm posted $2.30 EPS. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. Equities analysts expect that Bank of Montreal will post 4.96 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in BMO. Guggenheim Capital LLC increased its position in shares of Bank of Montreal by 16.1% during the fourth quarter. Guggenheim Capital LLC now owns 3,679 shares of the bank's stock worth $285,000 after buying an additional 511 shares during the period. Commerce Bank increased its position in shares of Bank of Montreal by 14.0% during the first quarter. Commerce Bank now owns 6,903 shares of the bank's stock worth $347,000 after buying an additional 847 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Bank of Montreal during the first quarter worth $1,549,000. APG Asset Management N.V. increased its position in shares of Bank of Montreal by 89.2% during the first quarter. APG Asset Management N.V. now owns 439,435 shares of the bank's stock worth $21,939,000 after buying an additional 207,170 shares during the period. Finally, Raymond James & Associates increased its position in shares of Bank of Montreal by 9.8% during the fourth quarter. Raymond James & Associates now owns 81,468 shares of the bank's stock worth $6,306,000 after buying an additional 7,287 shares during the period. Hedge funds and other institutional investors own 41.36% of the company's stock.

Bank of Montreal Company Profile

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.

Featured Story: Overbought

To view ValuEngine's full report, visit ValuEngine's official website.

Analyst Recommendations for Bank of Montreal (NYSE:BMO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

10 Stocks to Buy On Fears of a Second Coronavirus Wave

Ever since the U.S. economy began to re-open (and honestly before that), there was concern over the impending “second wave” of the novel coronavirus. And although the second wave of the virus was not expected to hit until the fall, the concerns have been escalating as case numbers rise in multiple states.

And despite the Trump administration’s vehement statements that the economy would not shut down, we learned on February 25 that Texas was now pausing, and in some cases rolling back, its reopening measures in an effort to stem the spread of the virus.

And this is happening as the Centers for Disease Control (CDC) is now saying that it’s possible that 20 million Americans may have the coronavirus based on a sample of blood tests that are showing who has the antibodies in their system.

For its part, the stock market reacted sharply to the move. It was a move that undoubtedly frustrated many weary investors. In fact, you might be among those that have had just about enough of the Covid-19 market. I understand, I’m there too.

But, institutional investors are forward-looking. And right now, they don’t like what they. So stocks are having another broad selloff. However, in the midst of any selloff, there is money to be made. And the good news for investors is that many of the same stocks that were good buys in March, are still the stocks to buy right now. And while some of these stocks fit the classic definition of defensive stocks, you’ll find a few genuine growth stocks included on this list as well.

View the "10 Stocks to Buy On Fears of a Second Coronavirus Wave".

Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.