Cormark Trims Bank of Montreal (TSE:BMO) Target Price to C$118.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target dropped by analysts at Cormark from C$129.00 to C$118.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. Cormark’s price objective suggests a potential upside of 7.18% from the company’s previous close.

Several other brokerages have also weighed in on BMO. Jefferies Financial Group decreased their price objective on shares of Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating for the company in a report on Monday, August 12th. TD Securities downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$130.00 to C$114.00 in a report on Wednesday. National Bankshares lowered their price objective on shares of Bank of Montreal from C$131.00 to C$127.00 and set an “outperform” rating on the stock in a research report on Wednesday. CIBC lowered their price objective on shares of Bank of Montreal from C$120.00 to C$116.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Scotiabank cut shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from C$123.00 to C$112.00 in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$121.00.

Bank of Montreal Trading Down 1.7 %

Shares of BMO stock traded down C$1.94 during trading hours on Wednesday, hitting C$110.10. The company’s stock had a trading volume of 2,223,302 shares, compared to its average volume of 2,802,113. Bank of Montreal has a twelve month low of C$102.67 and a twelve month high of C$133.95. The business has a fifty day moving average of C$116.25 and a 200-day moving average of C$122.69. The stock has a market cap of C$80.29 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 0.54 and a beta of 1.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its earnings results on Wednesday, May 29th. The bank reported C$2.59 EPS for the quarter, missing analysts’ consensus estimates of C$2.74 by C($0.15). Bank of Montreal had a net margin of 20.07% and a return on equity of 8.19%. The business had revenue of C$7.97 billion during the quarter, compared to analysts’ expectations of C$8.06 billion. On average, equities analysts expect that Bank of Montreal will post 11.6437811 EPS for the current fiscal year.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.