Bank of Montreal (NYSE:BMO) Cut to Market Perform at Keefe, Bruyette & Woods

Bank of Montreal (NYSE:BMOGet Free Report) (TSE:BMO) was downgraded by research analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued on Monday, reports. They currently have a $124.00 price objective on the bank’s stock, down from their prior price objective of $137.00. Keefe, Bruyette & Woods’ target price points to a potential upside of 41.67% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Barclays began coverage on Bank of Montreal in a report on Wednesday, March 20th. They issued an “overweight” rating for the company. Desjardins downgraded Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Jefferies Financial Group assumed coverage on shares of Bank of Montreal in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. Finally, upgraded shares of Bank of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, March 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.50.

Read Our Latest Stock Analysis on BMO

Bank of Montreal Stock Performance

NYSE BMO opened at $87.53 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $93.42 and its 200-day simple moving average is $92.90. The company has a market cap of $63.83 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 2.35 and a beta of 1.12. Bank of Montreal has a 1-year low of $73.98 and a 1-year high of $100.12.

Hedge Funds Weigh In On Bank of Montreal

A number of institutional investors and hedge funds have recently modified their holdings of the company. Principal Securities Inc. acquired a new position in shares of Bank of Montreal in the 4th quarter valued at $33,000. Cullen Frost Bankers Inc. boosted its stake in Bank of Montreal by 3,375.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 417 shares of the bank’s stock valued at $41,000 after acquiring an additional 405 shares in the last quarter. Crewe Advisors LLC grew its holdings in shares of Bank of Montreal by 63.5% during the third quarter. Crewe Advisors LLC now owns 515 shares of the bank’s stock worth $43,000 after purchasing an additional 200 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Bank of Montreal during the fourth quarter worth about $44,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Bank of Montreal by 39.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 463 shares of the bank’s stock valued at $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

(Get Free Report)

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.

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