Bank Of Montreal (BMO) Rating Increased to Hold at Zacks Investment Research
Bank Of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “Bank of Montreal is one of the largest banks in North America, is also one of Canada’s oldest banks. The bank offers a complete range of financial services in our chosen markets on both sides of the Canada-United States border. The bank offers to all of their clients not just financial products, but knowledge-based solutions, custom-made to add value in their financial affairs. “
Other equities research analysts have also recently issued research reports about the company. Desjardins restated a “hold” rating and issued a $86.00 price target (up previously from $84.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. Credit Suisse Group AG restated a “hold” rating on shares of Bank Of Montreal in a research note on Sunday, September 11th. TD Securities restated a “hold” rating and issued a $89.00 price target (up previously from $86.00) on shares of Bank Of Montreal in a research note on Thursday, August 25th. Dundee Securities assumed coverage on Bank Of Montreal in a report on Wednesday, September 21st. They issued a “neutral” rating on the stock. Finally, Bank of America Corp. reaffirmed a “neutral” rating on shares of Bank Of Montreal in a report on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $83.89.
Bank Of Montreal (NYSE:BMO) opened at 66.22 on Friday. The company has a 50 day moving average price of $64.34 and a 200-day moving average price of $64.50. Bank Of Montreal has a 12-month low of $47.54 and a 12-month high of $67.69. The company has a market capitalization of $42.71 billion, a PE ratio of 13.31 and a beta of 1.06.
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Hedge funds have recently added to or reduced their stakes in the stock. CIBC World Markets Inc. raised its stake in Bank Of Montreal by 0.9% in the second quarter. CIBC World Markets Inc. now owns 27,233,628 shares of the company’s stock valued at $1,726,340,000 after buying an additional 244,618 shares during the period. TD Asset Management Inc. increased its position in Bank Of Montreal by 2.1% in the second quarter. TD Asset Management Inc. now owns 26,138,912 shares of the company’s stock valued at $1,649,406,000 after buying an additional 530,618 shares in the last quarter. Bank of Montreal Can purchased a new position in Bank Of Montreal during the second quarter valued at approximately $980,506,000. Capital Research Global Investors increased its position in Bank Of Montreal by 1.6% in the third quarter. Capital Research Global Investors now owns 12,928,682 shares of the company’s stock valued at $847,196,000 after buying an additional 199,522 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Bank Of Montreal by 13.2% in the second quarter. Vanguard Group Inc. now owns 12,343,265 shares of the company’s stock valued at $782,440,000 after buying an additional 1,436,726 shares in the last quarter. 47.90% of the stock is currently owned by institutional investors and hedge funds.
Bank Of Montreal Company Profile
Bank of Montreal (BMO) is a financial services company. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank’s operating groups include Personal and Commercial Banking, Wealth Management, BMO Capital Markets (BMO CM) and Corporate Services, including Technology and Operations.
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