Bank of Montreal (NYSE:BMO) Upgraded to Strong-Buy at Cibc World Mkts

Bank of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday,Zacks.com reports.

BMO has been the topic of several other research reports. TD Securities downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. CIBC raised Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research report on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $133.00 target price (up from $106.00) on shares of Bank of Montreal in a research report on Friday. StockNews.com lowered Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Thursday, August 29th. Finally, Jefferies Financial Group lowered Bank of Montreal from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $122.40.

Bank of Montreal Trading Up 3.8 %

NYSE BMO opened at $103.39 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. Bank of Montreal has a twelve month low of $76.98 and a twelve month high of $104.63. The company has a market cap of $75.43 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10. The business’s fifty day moving average is $93.33 and its 200 day moving average is $88.41.

Hedge Funds Weigh In On Bank of Montreal

Institutional investors have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL bought a new position in shares of Bank of Montreal during the 2nd quarter worth about $34,000. Rothschild Investment LLC bought a new position in shares of Bank of Montreal during the 2nd quarter worth about $40,000. Wilmington Savings Fund Society FSB bought a new position in shares of Bank of Montreal during the 3rd quarter worth about $45,000. GHP Investment Advisors Inc. boosted its position in shares of Bank of Montreal by 244.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 554 shares of the bank’s stock worth $50,000 after purchasing an additional 393 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Bank of Montreal by 207.8% during the 3rd quarter. Blue Trust Inc. now owns 668 shares of the bank’s stock worth $56,000 after purchasing an additional 451 shares in 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.