Is Bank of Montreal (BMO) a Buy? The Stock Reaches 52-Week High Today

January 20, 2018 - By reb123z

The stock of Bank of Montreal (NYSE:BMO) hit a new 52-week high and has $88.52 target or 6.00 % above today’s $83.51 share price. The 7 months bullish chart indicates low risk for the $52.96 billion company. The 1-year high was reported on Jan, 20 by Barchart.com. If the $88.52 price target is reached, the company will be worth $3.18 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.01% or $0.01 during the last trading session, reaching $83.51. About 338,899 shares traded or 2.25% up from the average. Bank of Montreal (NYSE:BMO) has risen 10.44% since January 20, 2017 and is uptrending. It has underperformed by 6.26% the S&P500.

Analysts await Bank of Montreal (NYSE:BMO) to report earnings on February, 27. They expect $1.58 EPS, down 7.60 % or $0.13 from last year’s $1.71 per share. BMO’s profit will be $1.00B for 13.21 P/E if the $1.58 EPS becomes a reality. After $1.55 actual EPS reported by Bank of Montreal for the previous quarter, Wall Street now forecasts 1.94 % EPS growth.

Bank of Montreal (NYSE:BMO) Ratings Coverage

Among 12 analysts covering Bank Of Montreal (NYSE:BMO), 3 have Buy rating, 0 Sell and 9 Hold. Therefore 25% are positive. Bank Of Montreal had 28 analyst reports since August 4, 2015 according to SRatingsIntel. RBC Capital Markets maintained the shares of BMO in report on Thursday, May 25 with “Sector Perform” rating. The rating was upgraded by Credit Suisse to “Neutral” on Wednesday, November 23. The stock has “Sector Perform” rating by RBC Capital Markets on Wednesday, August 26. TD Securities upgraded Bank of Montreal (NYSE:BMO) on Wednesday, December 2 to “Buy” rating. The rating was downgraded by Canaccord Genuity on Thursday, May 26 to “Hold”. The stock has “Underperform” rating by Credit Suisse on Tuesday, October 4. The stock of Bank of Montreal (NYSE:BMO) has “Hold” rating given on Tuesday, August 29 by Canaccord Genuity. The rating was upgraded by TD Securities to “Buy” on Thursday, June 1. The stock of Bank of Montreal (NYSE:BMO) has “Sector Perform” rating given on Friday, September 11 by RBC Capital Markets. National Bank Canada maintained the shares of BMO in report on Wednesday, August 26 with “Sector Perform” rating.

More notable recent Bank of Montreal (NYSE:BMO) news were published by: Fool.ca which released: “Race to $100: Bank of Montreal vs. Royal Bank of Canada” on October 03, 2017, also Fool.ca with their article: “Why Bank of Montreal Is a Great Investment Right Now” published on August 18, 2017, Bloomberg.com published: “Bank of Montreal Braces for Loan Losses as US Growth Ebbs” on May 24, 2017. More interesting news about Bank of Montreal (NYSE:BMO) were released by: Fool.ca and their article: “Dividend Investors: 3 Reasons to Buy and Hold Bank of Montreal Now” published on September 05, 2017 as well as Bloomberg.com‘s news article titled: “Bank of Montreal Falls as Profit From US Unit Disappoints” with publication date: August 29, 2017.

Bank of Montreal provides diversified financial services primarily in North America. The company has market cap of $52.96 billion. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. It has a 13.12 P/E ratio. The companyÂ’s personal banking services and products include checking and savings accounts, credit cards, mortgages, creditor insurance, and financial and investment advice; and commercial banking services and products comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.

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