Bank Of Montreal (BMO) Research Coverage Started at Canaccord Genuity
Stock analysts at Canaccord Genuity assumed coverage on shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) in a report issued on Tuesday, Marketbeat reports. The firm set a “hold” rating on the bank’s stock.
A number of other brokerages also recently issued reports on BMO. Citigroup Inc. upgraded Bank Of Montreal from a “neutral” rating to a “buy” rating in a report on Thursday, May 18th. TD Securities upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. They noted that the move was a valuation call. Zacks Investment Research downgraded Bank Of Montreal from a “hold” rating to a “sell” rating in a report on Thursday, May 25th. BidaskClub upgraded Bank Of Montreal from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Finally, Barclays PLC upgraded Bank Of Montreal from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 23rd. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $88.38.
Bank Of Montreal (NYSE:BMO) opened at 76.73 on Tuesday. The firm has a market cap of $50.03 billion, a PE ratio of 12.31 and a beta of 1.01. Bank Of Montreal has a one year low of $62.32 and a one year high of $78.00. The firm has a 50-day moving average price of $71.73 and a 200-day moving average price of $73.32.
Bank Of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 24th. The bank reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.05. Bank Of Montreal had a return on equity of 14.25% and a net margin of 19.60%. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the previous year, the business earned $1.73 EPS. Bank Of Montreal’s revenue was up 12.5% compared to the same quarter last year. On average, equities analysts expect that Bank Of Montreal will post $6.32 EPS for the current fiscal year.
Bank Of Montreal announced that its board has authorized a stock repurchase program on Thursday, April 27th that authorizes the company to repurchase 15,000,000 outstanding shares. This repurchase authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
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Hedge funds have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its stake in Bank Of Montreal by 1.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,377 shares of the bank’s stock valued at $103,000 after buying an additional 23 shares during the last quarter. BNP Paribas Arbitrage SA bought a new stake in Bank Of Montreal during the first quarter valued at $121,000. Signature Estate & Investment Advisors LLC bought a new stake in Bank Of Montreal during the first quarter valued at $150,000. Parallel Advisors LLC increased its stake in Bank Of Montreal by 5.0% in the first quarter. Parallel Advisors LLC now owns 2,071 shares of the bank’s stock valued at $145,000 after buying an additional 99 shares during the last quarter. Finally, IHT Wealth Management LLC increased its stake in Bank Of Montreal by 38.7% in the first quarter. IHT Wealth Management LLC now owns 2,150 shares of the bank’s stock valued at $160,000 after buying an additional 600 shares during the last quarter. Institutional investors own 47.86% of the company’s stock.
Bank Of Montreal Company Profile
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.
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