Bank of Montreal (NYSE:BMO) Stock Rating Lowered by CIBC

Bank of Montreal (NYSE:BMO) (TSE:BMO) was downgraded by CIBC from a “sector outperform” rating to a “neutral” rating in a note issued to investors on Friday, Marketbeat Ratings reports.

BMO has been the topic of a number of other research reports. Cibc World Mkts raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. StockNews.com raised shares of Bank of Montreal from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada increased their target price on Bank of Montreal from $161.00 to $163.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $128.40.

Bank of Montreal Stock Down 7.1 %

Shares of NYSE BMO opened at $89.27 on Friday. Bank of Montreal has a 52-week low of $76.98 and a 52-week high of $106.00. The firm has a market capitalization of $64.90 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.43 and a beta of 0.95. The stock has a 50 day moving average price of $98.79 and a 200 day moving average price of $96.21. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last issued its earnings results on Tuesday, February 25th. The bank reported $3.04 earnings per share for the quarter, topping the consensus estimate of $1.68 by $1.36. The business had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $8.58 billion. Bank of Montreal had a return on equity of 10.18% and a net margin of 9.22%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.56 EPS. Sell-side analysts expect that Bank of Montreal will post 7.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BMO. Thrivent Financial for Lutherans increased its holdings in shares of Bank of Montreal by 6.0% during the third quarter. Thrivent Financial for Lutherans now owns 3,667 shares of the bank’s stock valued at $331,000 after acquiring an additional 209 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Bank of Montreal by 47.9% during the third quarter. BNP Paribas Financial Markets now owns 4,057 shares of the bank’s stock worth $366,000 after buying an additional 1,314 shares during the period. Benjamin Edwards Inc. purchased a new stake in shares of Bank of Montreal during the third quarter valued at $357,000. Quantinno Capital Management LP raised its stake in Bank of Montreal by 9.6% in the 3rd quarter. Quantinno Capital Management LP now owns 9,122 shares of the bank’s stock worth $823,000 after acquiring an additional 802 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in Bank of Montreal by 2.4% during the 3rd quarter. Stifel Financial Corp now owns 146,232 shares of the bank’s stock worth $13,190,000 after acquiring an additional 3,496 shares during the period. 45.82% of the stock is owned by institutional investors and hedge funds.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.