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Bank of Montreal (NYSE:BMO) on track to break its nine-day winning streak. The stock had gained 8.5% over the course of nine days of advance.
The company fell 0.41% to $87.5 in early afternoon trading, a day after it hit its highest level since Sept., 2023. Overall shares have fallen 4.7% since the start of the year.
BMO had closed at $87.86 on Monday.
Looking at Seeking Alpha’s Quant Rating, BMO has a Hold rating with a score of 2.82 out of 5. The company received A for profitability and a C- for momentum, while, its growth and valuation prospects have been graded D and C+, respectively.
November has been a mixed month for the company, with 12 sessions in green and nine in red.
Turning to the Wall Street community, two analysts give BMO a Strong Buy, while six are Buy on the stock. About four analysts have given the stock a Hold recommendation and one Strong Sell.
“Some challenges remaining are a decline in income and revenues, as well as an increasing squeeze on interest margins, as both the yield on earning assets has gone up but so have the costs of their interest-bearing liabilities,” said SA contributor Albert Anthony.
Anthony added, BMO is a solid bank with lots of brand name recognition in the U.S. and Canadian financial markets.
BMO had earlier in the month reported fiscal Q4 adjusted earnings higher from its last quarter, but down from the year-ago quarter, and a little shy of the Wall Street consensus.