Zacks Research Downgrades Bank Of Montreal (NYSE:BMO) to Hold

Key Points

• Zacks Research downgraded Bank of Montreal from a "strong-buy" to a "hold," and consensus among analysts is a Hold with an average target price of $163 amid mixed ratings (1 Strong Buy, 3 Buy, 7 Hold, 1 Sell).
• BMO reported better-than-expected quarterly results—EPS $2.51 vs. $2.35 and revenue $7.21B vs. $6.73B—with a 11.76% net margin and 12.16% ROE; the stock trades around $151 with a P/E of about 17.6 and a market cap of $106.1B.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group reaffirmed a "hold" rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. National Bank Financial reaffirmed a "sector perform" rating on shares of Bank Of Montreal in a report on Wednesday, February 25th. Wall Street Zen raised shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a report on Sunday, February 8th. Scotiabank reaffirmed a "sector perform" rating on shares of Bank Of Montreal in a report on Friday, January 9th. Finally, Barclays cut shares of Bank Of Montreal from an "equal weight" rating to an "underweight" rating in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $163.00.

Bank Of Montreal Trading Down 0.6%

Bank Of Montreal stock opened at $151.41 on Monday. The firm has a 50-day moving average of $142.65 and a 200-day moving average of $134.77. Bank Of Montreal has a one year low of $93.77 and a one year high of $154.48. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $106.12 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 0.98 and a beta of 0.92.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its earnings results on Wednesday, February 25th. The bank reported $2.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.35 by $0.16. The company had revenue of $7.21 billion for the quarter, compared to analysts' expectations of $6.73 billion. Bank Of Montreal had a net margin of 11.76% and a return on equity of 12.16%. Bank Of Montreal's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.04 EPS. On average, equities analysts expect that Bank Of Montreal will post 10.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. True Wealth Design LLC bought a new position in shares of Bank Of Montreal during the third quarter worth approximately $28,000. WFA of San Diego LLC bought a new position in shares of Bank Of Montreal during the second quarter worth approximately $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Bank Of Montreal during the fourth quarter worth approximately $29,000. Larson Financial Group LLC increased its holdings in shares of Bank Of Montreal by 466.7% during the third quarter. Larson Financial Group LLC now owns 238 shares of the bank's stock worth $31,000 after purchasing an additional 196 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Bank Of Montreal during the fourth quarter worth approximately $34,000. 45.82% of the stock is owned by 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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