Rafferty Capital Upgrades Bank of Montreal (USA) to Buy

Brokerage firm Rafferty Capital Upgrades its rating on Bank of Montreal (USA)(NYSE:BMO). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Rafferty Capital was issued on Jun 9, 2016.

In a different note, On May 26, 2016, Canaccord Genuity said it Downgrades its rating on Bank of Montreal (USA). The shares have been rated ‘Hold’ by the firm. On May 26, 2016, Scotia Bank said it Downgrades its rating on Bank of Montreal (USA). The shares have been rated ‘Sector Perform’ by the firm. On May 26, 2016, TD Securities said it Downgrades its rating on Bank of Montreal (USA). The shares have been rated ‘Hold’ by the firm.

Bank of Montreal (USA) (BMO) shares turned negative on Wednesdays trading session with the shares closing down -0.12 points or -0.19% at a volume of 7,38,239. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $63.7. The peak price level was also seen at $63.7 while the days lowest was $63.1625. Finally the shares closed at $63.25. The 52-week high of the shares is $66.29 while the 52-week low is $47.54. According to the latest information available, the market cap of the company is $40,733 M.

Bank of Montreal (USA) has also declared a cash dividend of $0.8600 on May 25, 2016. The shares will quote ex-dividend on Jul 28, 2016 and the record date has been fixed on Aug 1, 2016. The dividend payable date has been fixed on Aug 26, 2016.

Bank of Montreal (USA)(BMO) last announced its earnings results on May 25, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.58B. Analysts had an estimated revenue of $5.01B. Earnings per share were $1.32. Analysts had estimated an EPS of $1.77.

Bank of Montreal (BMO) is a financial services company. The Bank provides a range of retail banking wealth management and investment banking products and services. It conducts its business through three operating groups: Personal and Commercial Banking Wealth Management and BMO Capital Markets. The Bank operates primarily in Canada and the United States. It also has operations in the United Kingdom Europe the Caribbean and Asia. It also serves customers through its wealth management businesses: BMO Nesbitt Burns BMO InvestorLine BMO Private Banking BMO Global Asset Management and BMO Insurance. BMO Capital Markets its investment and corporate banking and trading products division provides a suite of financial products and services to North American and international clients. In the United States BMO serves customers through BMO Harris Bank based in the United States Midwest with more than two million retail small business and commercial customers.

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