Barclays Lowers Bank of Montreal (NYSE:BMO) Price Target to $126.00

Bank of Montreal (NYSE:BMO) (TSE:BMO) had its price objective lowered by research analysts at Barclays from $132.00 to $126.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Barclays‘s price objective indicates a potential upside of 51.88% from the stock’s previous close.

A number of other equities analysts have also issued reports on BMO. TD Securities lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods lowered shares of Bank of Montreal from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $137.00 to $124.00 in a research report on Monday, June 3rd. Scotiabank lowered shares of Bank of Montreal from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $123.00 to $112.00 in a report on Wednesday. Bank of America lowered shares of Bank of Montreal from a “buy” rating to a “neutral” rating and cut their target price for the company from $134.00 to $117.00 in a report on Wednesday. Finally, Desjardins lowered shares of Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $119.75.

Bank of Montreal Stock Up 1.3 %

Shares of Bank of Montreal stock opened at $82.96 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.99. Bank of Montreal has a 1 year low of $73.98 and a 1 year high of $100.12. The firm’s 50-day moving average is $84.70 and its two-hundred day moving average is $89.75. The stock has a market cap of $60.50 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 2.04 and a beta of 1.12.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last released its quarterly earnings results on Tuesday, August 27th. The bank reported $2.64 earnings per share for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12). The firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $8.25 billion. Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.08 earnings per share. As a group, research analysts expect that Bank of Montreal will post 7.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bank of Montreal

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. acquired a new stake in Bank of Montreal during the 4th quarter worth $33,000. Rothschild Investment LLC acquired a new stake in Bank of Montreal during the 2nd quarter worth $40,000. Cullen Frost Bankers Inc. boosted its stake in Bank of Montreal by 3,375.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock worth $41,000 after purchasing an additional 405 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Bank of Montreal during the 4th quarter worth $44,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Bank of Montreal by 39.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock worth $46,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 45.82% of the company’s stock.

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.