CIBC Cuts Bank of Montreal (BMO) Price Target to C$100.00
Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective cut by equities research analysts at CIBC from C$101.00 to C$100.00 in a research note issued to investors on Wednesday. CIBC’s price target points to a potential upside of 11.02% from the stock’s current price.
Several other equities analysts also recently commented on the company. Canaccord Genuity upped their price objective on Bank of Montreal from C$99.00 to C$102.00 and gave the company a “hold” rating in a research report on Wednesday. Barclays PLC upped their price objective on Bank of Montreal from C$98.00 to C$99.00 in a research report on Friday, August 11th. TD Securities raised Bank of Montreal from a “hold” rating to a “buy” rating and set a C$105.00 price objective on the stock in a research report on Thursday, June 1st. Royal Bank Of Canada cut their price objective on Bank of Montreal from C$110.00 to C$108.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 25th. Finally, Scotiabank cut their price objective on Bank of Montreal from C$107.00 to C$104.00 and set an “outperform” rating on the stock in a research report on Thursday, May 25th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of C$100.00.
Bank of Montreal (TSE BMO) traded up 0.50% during midday trading on Wednesday, hitting $90.52. 782,535 shares of the stock were exchanged. The stock has a market cap of $59.02 billion and a PE ratio of 11.39. The company’s 50 day moving average is $94.57 and its 200-day moving average is $96.57. Bank of Montreal has a 1-year low of $83.43 and a 1-year high of $104.15.
In other news, Director Thomas Earl Flynn sold 10,951 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of C$91.60, for a total transaction of C$1,003,111.60. Also, insider David Robert Casper sold 17,005 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of C$93.36, for a total value of C$1,587,586.80.
Bank of Montreal Company Profile
Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The companys personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance, and financial and investment advice; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.
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