Bank of Montreal: Undervalued with Reasonable Price Amidst Volatility and Strong Portfolio

Bank of Montreal (BMO) has been upgraded to a hold rating due to its impressive performance and well-positioned portfolio despite the volatile market. The bank's stock is trading above support levels and is considered reasonably priced. Analysts expect BMO to continue delivering upside.

Bank of Montreal (BMO) has been upgraded to a hold rating by analysts despite its impressive performance and well-positioned portfolio. The bank's stock is trading above support levels and is considered reasonably priced. Analysts expect BMO to continue delivering upside, but the current volatile market has led to a cautious rating.

In its latest quarterly results, BMO reported earnings per share (EPS) of $2.33, beating analysts' estimates by $0.21. Revenue for the quarter was $6.51 billion, a 9.7% year-over-year increase. The bank also announced a quarterly dividend increase to $1.63 per share, reflecting a 5.0% annual yield Acadian Asset Management LLC Purchases 4,758 Shares of Bank Of Montreal $BMO^[1].

Acadian Asset Management LLC and several other hedge funds have recently increased their stakes in BMO. Acadian Asset Management LLC boosted its stake by 65.7% during the first quarter, owning 12,000 shares after acquiring an additional 4,758 shares. Other notable investors include Cary Street Partners Investment Advisory LLC, Bayforest Capital Ltd, Truvestments Capital LLC, HM Payson & Co., and CX Institutional Acadian Asset Management LLC Purchases 4,758 Shares of Bank Of Montreal $BMO^[1].

Several brokerages have issued reports on BMO, with varying ratings. Royal Bank of Canada and CIBC upgraded the stock to an "outperform" rating, while Wall Street Zen downgraded it to a "sell" rating. The consensus rating among analysts is "Moderate Buy" with a price target of $168.00 Bank Of Montreal (NYSE:BMO) Given Consensus Rating of ^[2].

Despite the positive performance, analysts have taken a cautious approach due to the volatile market. BMO's stock has been trading above support levels, and its valuation is considered reasonable. The bank's strong fundamentals and diversified portfolio position it well for continued growth.