ValuEngine Lowers Bank of Montreal (BMO) to Sell

Bank of Montreal (NYSE:BMO) (TSE:BMO) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Thursday.

BMO has been the topic of several other reports. Zacks Investment Research lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Royal Bank of Canada upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Wednesday, July 18th. Finally, BMO Capital Markets upgraded shares of Bank of Montreal to a “$78.97” rating in a report on Wednesday, July 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $106.50.

Shares of BMO stock traded up $0.54 on Thursday, hitting $75.28. 694,800 shares of the stock traded hands, compared to its average volume of 446,084. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.14. The stock has a market cap of $48.36 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.32 and a beta of 1.09. Bank of Montreal has a twelve month low of $73.79 and a twelve month high of $84.71.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Tuesday, August 28th. The bank reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.07. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.45 billion. Bank of Montreal had a net margin of 16.17% and a return on equity of 14.75%. As a group, equities research analysts predict that Bank of Montreal will post 6.93 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of BMO. BDO Wealth Advisors LLC purchased a new stake in Bank of Montreal during the second quarter worth about $105,000. AdvisorNet Financial Inc increased its stake in Bank of Montreal by 148.1% during the second quarter. AdvisorNet Financial Inc now owns 1,526 shares of the bank’s stock worth $118,000 after purchasing an additional 911 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Bank of Montreal during the second quarter worth about $155,000. Clearwater Capital Advisors LLC purchased a new stake in Bank of Montreal during the third quarter worth about $202,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in Bank of Montreal during the third quarter worth about $210,000. Hedge funds and other institutional investors own 43.38% of the company’s stock.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Bank of Montreal (NYSE:BMO)

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