Bank of Montreal (TSE:BMO) Lowered to “Neutral” Rating by CIBC

Bank of Montreal (TSE:BMO) (NYSE:BMO) was downgraded by investment analysts at CIBC from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. They presently have a C$141.00 target price on the bank’s stock, down from their prior target price of C$152.00. CIBC’s price objective suggests a potential upside of 10.99% from the stock’s current price.

Several other research analysts have also recently weighed in on BMO. Canaccord Genuity Group upped their price objective on Bank of Montreal from C$154.00 to C$165.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. UBS Group boosted their target price on Bank of Montreal from C$146.00 to C$160.00 in a research report on Friday, February 28th. Canaccord Genuity Group raised their price target on Bank of Montreal from C$143.00 to C$148.00 in a report on Friday, December 6th. National Bankshares boosted their price objective on Bank of Montreal from C$153.00 to C$161.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Finally, TD Securities raised their target price on shares of Bank of Montreal from C$145.00 to C$152.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bank of Montreal presently has an average rating of “Hold” and an average price target of C$148.15.

Bank of Montreal Trading Down 6.1 %

BMO opened at C$127.04 on Friday. Bank of Montreal has a 1-year low of C$109.02 and a 1-year high of C$151.08. The stock has a market capitalization of C$92.02 billion, a PE ratio of 12.54, a PEG ratio of 0.71 and a beta of 1.16. The firm has a 50-day moving average price of C$141.56 and a two-hundred day moving average price of C$135.70.

Insider Activity

In related news, Senior Officer Nadim Hirji sold 3,238 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of C$148.87, for a total value of C$482,024.87. 0.03% of the stock is currently owned by company insiders.

About Bank of Montreal

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.