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For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Bank Of Montreal (BMO) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Bank Of Montreal is a member of our Finance group, which includes 886 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. BMO is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for BMO's full-year earnings has moved 33.99% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, BMO has gained about 16.23% so far this year. In comparison, Finance companies have returned an average of 10.91%. This means that Bank Of Montreal is outperforming the sector as a whole this year.
Looking more specifically, BMO belongs to the Banks - Foreign industry, which includes 61 individual stocks and currently sits at #57 in the Zacks Industry Rank. Stocks in this group have gained about 12.24% so far this year, so BMO is performing better this group in terms of year-to-date returns.
Investors with an interest in Finance stocks should continue to track BMO. The stock will be looking to continue its solid performance.
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