Bank of Montreal [NYSE: BMO] gained 0.71% or 0.69 points to close at $97.95 with a heavy trading volume of 526377 shares. The company report on January 13, 2023 that BMO Global Asset Management Launches Fund Providing Access to Privately-Held Companies Forming Backbone of Tomorrow’s Digital Economy.
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BMO Global Asset Management (BMO GAM) continues to enhance its capabilities in the alternative investment space with the launch of the BMO Georgian Alignment II Access Fund LP (Access Fund). This new fund offers an opportunity for Canadian accredited investors to gain exposure to privately-held companies, a part of the real economy traditionally reserved for institutional investors.
It opened the trading session at $96.31, the shares rose to $98.07 and dropped to $96.08, the range by which the price of stock traded the whole day. The daily chart for BMO points out that the company has recorded 6.41% gains over the past six months. However, it is still -20.08% lower than its most recent low trading price.
If we look at the average trading volume of 681.47K shares, BMO reached to a volume of 526377 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Bank of Montreal [BMO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BMO shares is $99.37 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BMO stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Credit Suisse have made an estimate for Bank of Montreal shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 19, 2022. The new note on the price target was released on December 12, 2022, representing the official price target for Bank of Montreal stock.
The Average True Range (ATR) for Bank of Montreal is set at 1.76, with the Price to Sales ratio for BMO stock in the period of the last 12 months amounting to 3.26. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 367.58. Price to Free Cash Flow for BMO in the course of the last twelve months was 48.35.
Trading performance analysis for BMO stock
Bank of Montreal [BMO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.96. With this latest performance, BMO shares gained by 8.04% in over the last four-week period, additionally plugging by 6.41% over the last 6 months – not to mention a drop of -16.18% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BMO stock in for the last two-week period is set at 66.10, with the RSI for the last a single of trading hit 74.68, and the three-weeks RSI is set at 60.75 for Bank of Montreal [BMO]. The present Moving Average for the last 50 days of trading for this stock 94.44, while it was recorded at 96.35 for the last single week of trading, and 98.50 for the last 200 days.
Bank of Montreal [BMO]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BMO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Bank of Montreal go to 6.20%.
An analysis of insider ownership at Bank of Montreal [BMO]
There are presently around $28,532 million, or 54.10% of BMO stock, in the hands of institutional investors. The top three institutional holders of BMO stocks are: ROYAL BANK OF CANADA with ownership of 65,645,277, which is approximately 2.338% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 24,179,597 shares of the stock with an approximate value of $2.37 billion in BMO stocks shares; and BANK OF MONTREAL /CAN/, currently with $2.36 billion in BMO stock with ownership of nearly 7.313% of the company’s market capitalization.
Positions in Bank of Montreal stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 204 institutional holders increased their position in Bank of Montreal [NYSE:BMO] by around 17,969,920 shares. Additionally, 199 investors decreased positions by around 13,425,409 shares, while 110 investors held positions by with 259,901,110 shares. The mentioned changes placed institutional holdings at 291,296,439 shares, according to the latest SEC report filing. BMO stock had 37 new institutional investments in for a total of 1,052,429 shares, while 60 institutional investors sold positions of 1,667,804 shares during the same period.