Bank of Montreal (NYSE:BMO) Coverage Initiated at Credit Suisse Group

Equities research analysts at Credit Suisse Group started coverage on shares of Bank of Montreal (NYSE:BMO) (TSE:BMO) in a report released on Monday, TipRanks reports. The brokerage set a “hold” rating and a $76.00 price target on the bank’s stock. Credit Suisse Group’s price target points to a potential upside of 45.54% from the company’s current price.

A number of other analysts have also recently weighed in on BMO. National Bank Financial cut Bank of Montreal from an “outperform” rating to a “sector perform” rating and set a $75.00 price target for the company. in a research report on Thursday, May 28th. Zacks Investment Research raised Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Wednesday, May 27th. ValuEngine cut Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. BMO Capital Markets cut Bank of Montreal from an “outperform” rating to a “sector perform” rating and set a $75.00 price target for the company. in a research report on Wednesday, May 27th. Finally, Canaccord Genuity boosted their price objective on Bank of Montreal from $73.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Bank of Montreal has a consensus rating of “Hold” and a consensus price target of $80.30.

Shares of BMO stock opened at $52.22 on Monday. Bank of Montreal has a 1-year low of $38.31 and a 1-year high of $79.93. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $33.33 billion, a price-to-earnings ratio of 9.26, a P/E/G ratio of 2.20 and a beta of 1.11. The stock’s fifty day simple moving average is $51.56 and its 200-day simple moving average is $61.56.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings data on Wednesday, May 27th. The bank reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.10. Bank of Montreal had a return on equity of 11.85% and a net margin of 13.51%. The firm had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.99 billion. During the same quarter last year, the firm earned $2.30 earnings per share. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts predict that Bank of Montreal will post 4.96 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. TFG Advisers LLC bought a new position in Bank of Montreal during the fourth quarter valued at about $34,000. Hanson & Doremus Investment Management bought a new position in Bank of Montreal during the first quarter valued at about $25,000. MBE Wealth Management LLC bought a new position in Bank of Montreal during the first quarter valued at about $27,000. Ballast Advisors LLC bought a new position in Bank of Montreal during the first quarter valued at about $28,000. Finally, Exchange Traded Concepts LLC increased its stake in Bank of Montreal by 4,972.7% during the first quarter. Exchange Traded Concepts LLC now owns 558 shares of the bank’s stock valued at $28,000 after acquiring an additional 547 shares during the period. Hedge funds and other institutional investors own 41.36% of the company’s stock.

Bank of Montreal Company Profile

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, 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, as well as wealth management products and services, such as insurance products.

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Analyst Recommendations for Bank of Montreal (NYSE:BMO)

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