Today: Bank Of Montreal (BMO) Upgrade to Hold at The Zacks Investment Research

Today: Bank Of Montreal (BMO) Upgrade to Hold at The Zacks Investment Research

Zacks Investment Research upgraded shares of Bank Of Montreal (NYSE:BMO) (TSE:BMO) from a sell rating to a hold rating in a research report released on Friday morning.

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. “

A number of other equities research analysts have also issued reports on the company. Credit Suisse Group AG lowered Bank Of Montreal from a neutral rating to an underperform rating in a research note on Tuesday, October 4th. RBC Capital Markets reiterated a sector perform rating and issued a $88.00 price target on shares of Bank Of Montreal in a research note on Wednesday, October 5th. Scotiabank reiterated a sector perform rating and issued a $86.00 price target on shares of Bank Of Montreal in a research note on Tuesday, October 18th. Bank of America Corp. reiterated a neutral rating on shares of Bank Of Montreal in a research note on Tuesday, November 1st. Finally, Barclays PLC reiterated an underweight rating and issued a $75.00 price target (up previously from $70.00) on shares of Bank Of Montreal in a research note on Sunday, August 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Bank Of Montreal currently has a consensus rating of Hold and an average target price of $83.89.

Bank Of Montreal (NYSE:BMO) opened at 66.02 on Friday. Bank Of Montreal has a 12-month low of $47.54 and a 12-month high of $67.69. The stock has a 50 day moving average price of $64.25 and a 200 day moving average price of $64.46. The stock has a market cap of $42.58 billion, a P/E ratio of 13.27 and a beta of 1.06.

A number of hedge funds have recently made changes to their positions in BMO. Tower Research Capital LLC TRC increased its stake in shares of Bank Of Montreal by 1,196.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,931 shares of the company’s stock valued at $123,000 after buying an additional 1,782 shares during the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of Bank Of Montreal during the second quarter valued at about $145,000. Hudock Capital Group LLC increased its stake in shares of Bank Of Montreal by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,633 shares of the company’s stock valued at $166,000 after buying an additional 9 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Bank Of Montreal during the second quarter valued at about $174,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in shares of Bank Of Montreal during the second quarter valued at about $200,000. 47.90% of the stock is owned by institutional investors and hedge funds.

Bank Of Montreal Company Profile

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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