Bank of Montreal (BMO) Price Target Cut to C$103.00

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Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target lowered by Barclays from C$105.00 to C$103.00 in a report issued on Wednesday. Barclays’ target price points to a potential upside of 9.32% from the stock’s previous close.

A number of other research firms have also recently commented on BMO. National Bank Financial upped their price target on Bank of Montreal from C$108.00 to C$115.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 29th. Royal Bank of Canada upped their price target on Bank of Montreal from C$124.00 to C$126.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 29th. Canaccord Genuity upgraded Bank of Montreal from a “hold” rating to a “buy” rating and increased their price objective for the company from C$111.00 to C$118.00 in a research note on Wednesday, August 29th. CIBC increased their price objective on Bank of Montreal from C$109.00 to C$111.00 in a research note on Wednesday, August 29th. Finally, Eight Capital increased their price objective on Bank of Montreal from C$119.00 to C$124.00 in a research note on Wednesday, August 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Bank of Montreal has an average rating of “Buy” and a consensus price target of C$112.92.

TSE:BMO traded down C$0.97 during trading hours on Wednesday, reaching C$94.22. 1,139,480 shares of the stock were exchanged, compared to its average volume of 1,363,565. Bank of Montreal has a twelve month low of C$93.60 and a twelve month high of C$109.00.

In other news, insider Jean-Michel Ares sold 57,356 shares of the stock in a transaction on Friday, September 21st. The stock was sold at an average price of C$108.46, for a total value of C$6,220,831.76.

About Bank of Montreal

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 company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; 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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