Bank of Montreal (NYSE:BMO) Downgraded by Barclays to “Equal Weight”

Bank of Montreal (NYSE:BMO) (TSE:BMO) was downgraded by research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, MarketBeat Ratings reports.

A number of other analysts also recently weighed in on BMO. Cibc World Mkts downgraded shares of Bank of Montreal from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Royal Bank of Canada boosted their price objective on Bank of Montreal from $161.00 to $163.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. CIBC reissued a “neutral” rating on shares of Bank of Montreal in a research note on Tuesday, May 20th. Scotiabank assumed coverage on Bank of Montreal in a research report on Thursday, May 15th. They set a “sector perform” rating on the stock. Finally, Wall Street Zen upgraded Bank of Montreal from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Bank of Montreal currently has an average rating of “Hold” and an average target price of $129.50.

Bank of Montreal Stock Performance

NYSE:BMO opened at $107.87 on Monday. The stock’s 50 day simple moving average is $98.80 and its two-hundred day simple moving average is $98.54. Bank of Montreal has a 1 year low of $76.98 and a 1 year high of $109.10. The company has a market cap of $77.89 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.43 and a beta of 1.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.98.

Bank of Montreal (NYSE:BMO) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, hitting the consensus estimate of $1.84. Bank of Montreal had a net margin of 9.22% and a return on equity of 10.18%. The company had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $8.79 billion. During the same quarter in the previous year, the business posted $2.59 earnings per share. Bank of Montreal’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities analysts anticipate that Bank of Montreal will post 7.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bank of Montreal

A number of institutional investors have recently modified their holdings of BMO. Cary Street Partners Investment Advisory LLC increased its holdings in Bank of Montreal by 228.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the bank’s stock worth $26,000 after purchasing an additional 190 shares during the period. IFP Advisors Inc increased its stake in shares of Bank of Montreal by 179.5% during the fourth quarter. IFP Advisors Inc now owns 313 shares of the bank’s stock valued at $30,000 after buying an additional 201 shares during the period. Addison Advisors LLC increased its stake in shares of Bank of Montreal by 282.8% during the fourth quarter. Addison Advisors LLC now owns 333 shares of the bank’s stock valued at $32,000 after buying an additional 246 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Bank of Montreal during the first quarter valued at $34,000. Finally, Vision Financial Markets LLC purchased a new position in Bank of Montreal during the 4th quarter valued at about $39,000. 45.82% of the stock is owned by hedge funds and other institutional investors.

About Bank of Montreal

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.