Bank of Montreal (BMO) Earns Hold Rating from Canaccord Genuity

Bank of Montreal (NYSE:BMO) (TSE:BMO)‘s stock had its “hold” rating reaffirmed by research analysts at Canaccord Genuity in a research note issued on Tuesday. They currently have a $105.00 price objective on the bank’s stock. Canaccord Genuity’s target price would indicate a potential upside of 34.53% from the stock’s current price.

Several other research firms have also recently issued reports on BMO. BidaskClub cut shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Zacks Investment Research cut shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Macquarie initiated coverage on shares of Bank of Montreal in a research note on Tuesday, October 24th. They set a “neutral” rating and a $81.00 target price on the stock. Finally, Scotiabank restated a “buy” rating and set a $112.00 target price on shares of Bank of Montreal in a research note on Wednesday, November 22nd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $98.20.

Bank of Montreal (NYSE:BMO) traded down $0.23 on Tuesday, reaching $78.05. 540,200 shares of the company’s stock traded hands, compared to its average volume of 425,200. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $50,803.72, a PE ratio of 12.44, a P/E/G ratio of 2.19 and a beta of 1.06. Bank of Montreal has a 1-year low of $66.75 and a 1-year high of $79.02.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its position in shares of Bank of Montreal by 1.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,392 shares of the bank’s stock valued at $102,000 after purchasing an additional 15 shares during the last quarter. Motco purchased a new stake in shares of Bank of Montreal during the 3rd quarter valued at about $108,000. Advisory Services Network LLC increased its position in shares of Bank of Montreal by 409.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,568 shares of the bank’s stock valued at $115,000 after purchasing an additional 1,260 shares during the last quarter. IFP Advisors Inc increased its position in shares of Bank of Montreal by 11.5% during the 2nd quarter. IFP Advisors Inc now owns 1,604 shares of the bank’s stock valued at $118,000 after purchasing an additional 166 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Bank of Montreal by 6,400.0% during the 3rd quarter. Sei Investments Co. now owns 2,015 shares of the bank’s stock valued at $174,000 after purchasing an additional 1,984 shares during the last quarter. 42.78% of the stock is owned by hedge funds and other institutional investors.

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About Bank of Montreal

Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets.

Analyst Recommendations for Bank of Montreal (NYSE:BMO)

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