Bank of Montreal (NYSE:BMO) Stock Rating Upgraded by Royal Bank of Canada

Bank of Montreal (NYSE:BMO) (TSE:BMO) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued on Wednesday, Marketbeat Ratings reports.

A number of other brokerages also recently weighed in on BMO. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to a “sector outperform” rating in a report on Friday, December 6th. CIBC upgraded shares of Bank of Montreal from a “neutral” rating to a “sector outperform” rating in a research note on Friday, December 6th. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, StockNews.com downgraded shares of Bank of Montreal from a “hold” rating to a “sell” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $122.40.

Bank of Montreal Stock Up 0.8 %

NYSE:BMO opened at $96.97 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $70.76 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09. Bank of Montreal has a one year low of $76.98 and a one year high of $104.63. The stock has a 50-day simple moving average of $95.71 and a 200 day simple moving average of $89.96.

Institutional Trading of Bank of Montreal

Several large investors have recently added to or reduced their stakes in the business. Passumpsic Savings Bank boosted its position in Bank of Montreal by 2.1% during the 3rd quarter. Passumpsic Savings Bank now owns 5,142 shares of the bank’s stock worth $464,000 after acquiring an additional 105 shares during the period. D.A. Davidson & CO. grew its position in Bank of Montreal by 1.3% in the 3rd quarter. D.A. Davidson & CO. now owns 8,602 shares of the bank’s stock valued at $776,000 after buying an additional 113 shares in the last quarter. Boltwood Capital Management grew its position in Bank of Montreal by 3.1% in the 3rd quarter. Boltwood Capital Management now owns 4,125 shares of the bank’s stock valued at $372,000 after buying an additional 125 shares in the last quarter. Harbour Trust & Investment Management Co increased its stake in Bank of Montreal by 2.8% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 6,340 shares of the bank’s stock valued at $572,000 after buying an additional 172 shares during the period. Finally, Orion Portfolio Solutions LLC raised its position in shares of Bank of Montreal by 4.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,771 shares of the bank’s stock worth $430,000 after buying an additional 204 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

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.