Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Wednesday, BayStreet.CA reports. They presently have a C$117.00 target price on the bank’s stock, down from their previous target price of C$134.00. Bank of America‘s price objective would suggest a potential upside of 6.27% from the stock’s previous close.
Several other brokerages have also commented on BMO. Desjardins cut their price objective on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a report on Wednesday. Jefferies Financial Group decreased their target price on Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Cormark decreased their price objective on Bank of Montreal from C$129.00 to C$118.00 in a research report on Wednesday. Barclays dropped their price objective on Bank of Montreal from C$140.00 to C$132.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Finally, Scotiabank lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$123.00 to C$112.00 in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$121.00.
Check Out Our Latest Analysis on BMO
Bank of Montreal Price Performance
Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) last released 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). The firm had revenue of C$7.97 billion during the quarter, compared to analysts’ expectations of C$8.06 billion. Bank of Montreal had a net margin of 20.07% and a return on equity of 8.19%. On average, equities research analysts expect that Bank of Montreal will post 11.6437811 earnings per share for the current fiscal year.
About Bank of Montreal
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.
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