Todays Report: Today, Bank Of Montreal (BMO) Raised to “Hold” at The Zacks Investment Research

Today, Bank Of Montreal (BMO) Raised to “Hold” at The Zacks Investment Research

Bank Of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “Bank of Montreal is one of the largest banks in North America, is also one of Canada’s oldest banks. The bank offers a complete range of financial services in our chosen markets on both sides of the Canada-United States border. The bank offers to all of their clients not just financial products, but knowledge-based solutions, custom-made to add value in their financial affairs. “

Other analysts have also issued reports about the stock. Desjardins restated a “hold” rating and issued a $86.00 price target (up from $84.00) on shares of Bank Of Montreal in a research report on Thursday, August 25th. Credit Suisse Group AG restated a “hold” rating on shares of Bank Of Montreal in a research report on Sunday, September 11th. TD Securities reaffirmed a “hold” rating and set a $89.00 price objective (up from $86.00) on shares of Bank Of Montreal in a report on Thursday, August 25th. Dundee Securities initiated coverage on shares of Bank Of Montreal in a report on Wednesday, September 21st. They set a “neutral” rating for the company. Finally, Bank of America Corp. reaffirmed a “neutral” rating on shares of Bank Of Montreal in a report on Tuesday, November 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $83.89.

Bank Of Montreal (NYSE:BMO) traded up 0.09% on Friday, hitting $66.02. 194,409 shares of the stock traded hands. The stock has a 50-day moving average price of $64.17 and a 200 day moving average price of $64.43. Bank Of Montreal has a 12-month low of $47.54 and a 12-month high of $67.69. The stock has a market cap of $42.58 billion, a P/E ratio of 13.19 and a beta of 1.06.

Large investors have recently bought and sold shares of the stock. CIBC World Markets boosted its stake in Bank Of Montreal by 1.1% in the fourth quarter. CIBC World Markets now owns 26,739,897 shares of the company’s stock valued at $1,508,665,000 after buying an additional 295,063 shares during the last quarter. Detwiler Fenton Investment Management acquired a new stake in shares of Bank Of Montreal during the fourth quarter valued at approximately $271,000. Great West Life Assurance Co. Can boosted its stake in shares of Bank Of Montreal by 1.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 5,103,745 shares of the company’s stock valued at $288,612,000 after buying an additional 66,400 shares in the last quarter. Russell Frank Co boosted its stake in shares of Bank Of Montreal by 26.0% in the fourth quarter. Russell Frank Co now owns 1,631,563 shares of the company’s stock valued at $92,738,000 after buying an additional 336,637 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Bank Of Montreal by 234.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 330,366 shares of the company’s stock valued at $18,570,000 after buying an additional 231,466 shares in the last quarter. Hedge funds and other institutional investors own 48.15% of the company’s stock.

About Bank Of Montreal

Bank of Montreal (BMO) is a financial services company. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank’s operating groups include Personal and Commercial Banking, Wealth Management, BMO Capital Markets (BMO CM) and Corporate Services, including Technology and Operations.

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