Weiss Ratings Reaffirms "Buy (B)" Rating for Bank Of Montreal (NYSE:BMO)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B)" rating for Bank Of Montreal (NYSE:BMO), highlighting positive sentiment from analysts.
• Bank Of Montreal's stock has experienced a slight decline of 1.2%, with a current trading price of $127.09.
• The bank reported a 9.7% increase in revenue year-over-year, achieving $2.33 earnings per share, exceeding analyst expectations.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO's stock had its "buy (b)" rating restated by stock analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other research analysts have also issued research reports about the company. Cibc World Mkts upgraded Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. National Bankshares restated an "outperform" rating on shares of Bank Of Montreal in a research report on Friday, August 15th. Royal Bank Of Canada lowered Bank Of Montreal from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $168.00 to $163.00 in a research report on Friday, October 3rd. UBS Group restated a "neutral" rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. Finally, Cowen restated a "hold" rating on shares of Bank Of Montreal in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $163.00.

Bank Of Montreal Trading Down 1.2%

Shares of BMO traded down $1.60 during mid-day trading on Wednesday, reaching $127.09. The company had a trading volume of 430,002 shares, compared to its average volume of 662,716. The stock has a market cap of $90.85 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.31 and a beta of 1.03. Bank Of Montreal has a fifty-two week low of $85.40 and a fifty-two week high of $131.36. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $121.50 and a 200-day simple moving average of $109.52.

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

Institutional Investors Weigh In On Bank Of Montreal

Large investors have recently bought and sold shares of the business. State of Wyoming lifted its holdings in Bank Of Montreal by 237.4% during the first quarter. State of Wyoming now owns 14,254 shares of the bank's stock worth $1,361,000 after acquiring an additional 10,029 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Bank Of Montreal by 66.5% in 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 last quarter. Baskin Financial Services Inc. increased its position in Bank Of Montreal by 134.2% during the first quarter. Baskin Financial Services Inc. now owns 7,428 shares of the bank's stock worth $709,000 after buying an additional 4,256 shares during the last quarter. Code Waechter LLC acquired a new position in Bank Of Montreal during the first quarter worth approximately $282,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Bank Of Montreal in the first quarter valued at approximately $1,886,000. 45.82% of the stock is currently owned by institutional investors.

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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