Bank Of Montreal (NYSE:BMO) Upgraded at Scotiabank

Bank Of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research note issued on Monday.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings upgraded Bank Of Montreal from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday. TD Securities restated a “buy” rating on shares of Bank Of Montreal in a research note on Thursday. Jefferies Financial Group restated a “hold” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. National Bank Financial restated a “sector perform” rating on shares of Bank Of Montreal in a research note on Wednesday, February 25th. Finally, Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Bank Of Montreal currently has a consensus rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Trading Up 0.0%

Shares of BMO stock opened at $162.07 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11. The stock has a market cap of $113.51 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 0.91 and a beta of 0.95. The stock has a 50 day simple moving average of $148.07 and a 200 day simple moving average of $139.26. Bank Of Montreal has a 1 year low of $104.08 and a 1 year high of $163.75.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings results on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.14. Bank Of Montreal had a return on equity of 13.04% and a net margin of 12.60%.The business had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.98 billion. During the same period in the previous year, the company posted $2.62 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts predict that Bank Of Montreal will post 11.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Krane Financial Solutions LLC acquired a new position in shares of Bank Of Montreal during the first quarter worth $235,000. Glenmede Trust Co. NA increased its holdings in shares of Bank Of Montreal by 3.7% during the first quarter. Glenmede Trust Co. NA now owns 6,810 shares of the bank’s stock worth $922,000 after buying an additional 245 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Bank Of Montreal during the first quarter worth $891,000. Western Wealth Management LLC acquired a new position in shares of Bank Of Montreal during the first quarter worth $38,000. Finally, Strategic Investment Advisors MI acquired a new position in shares of Bank Of Montreal during the first quarter worth $481,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

About Bank Of Montreal

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.