CIBC Upgrades Bank of Montreal (NYSE:BMO) to “Sector Outperform”

Bank of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by analysts at CIBC from a “neutral” rating to a “sector outperform” rating in a research report issued on Friday,Briefing.com Automated Import reports.

A number of other research firms have also weighed in on BMO. Jefferies Financial Group lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. StockNews.com lowered Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Scotiabank raised Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday. Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $134.00 to $117.00 in a research note on Wednesday, August 28th. Finally, TD Securities cut Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $119.75.

Bank of Montreal Stock Performance

Shares of NYSE:BMO opened at $99.58 on Friday. The business’s 50-day simple moving average is $93.07 and its 200 day simple moving average is $88.38. The company has a market cap of $72.65 billion, a P/E ratio of 15.68, a PEG ratio of 2.59 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. Bank of Montreal has a one year low of $76.98 and a one year high of $100.12.

Hedge Funds Weigh In On Bank of Montreal

Several institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. increased its stake in shares of Bank of Montreal by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank’s stock valued at $776,000 after purchasing an additional 113 shares during the period. Signaturefd LLC increased its position in Bank of Montreal by 1.5% in the 2nd quarter. Signaturefd LLC now owns 8,581 shares of the bank’s stock valued at $720,000 after acquiring an additional 123 shares during the period. Boltwood Capital Management boosted its position in Bank of Montreal by 3.1% during the 3rd quarter. Boltwood Capital Management now owns 4,125 shares of the bank’s stock worth $372,000 after acquiring an additional 125 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Bank of Montreal by 4.4% in the second quarter. Sequoia Financial Advisors LLC now owns 3,580 shares of the bank’s stock worth $300,000 after purchasing an additional 151 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in shares of Bank of Montreal by 17.9% during the second quarter. Whittier Trust Co. now owns 1,092 shares of the bank’s stock valued at $92,000 after purchasing an additional 166 shares during the period. Institutional investors own 45.82% of the company’s stock.

About Bank of Montreal

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.