Bank of Montreal (TSE:BMO) Price Target Cut to C$161.00 by Analysts at Royal Bank of Canada

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target cut by analysts at Royal Bank of Canada from C$163.00 to C$161.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the bank’s stock. Royal Bank of Canada’s target price indicates a potential upside of 9.12% from the company’s current price.

A number of other research firms also recently weighed in on BMO. TD Securities increased their price target on 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. Cibc World Mkts downgraded Bank of Montreal from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Scotiabank raised Bank of Montreal to a “hold” rating in a research report on Thursday, May 15th. CIBC lifted their price target on Bank of Montreal from C$150.00 to C$156.00 and gave the stock a “neutral” rating in a report on Thursday, June 5th. Finally, Jefferies Financial Group reduced their price objective on Bank of Montreal from C$155.00 to C$129.00 in a report on Monday, April 21st. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$145.62.

Bank of Montreal Price Performance

TSE BMO opened at C$147.55 on Monday. The firm has a market cap of C$106.87 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The stock’s 50 day simple moving average is C$137.11 and its 200 day simple moving average is C$139.57. Bank of Montreal has a one year low of C$109.02 and a one year high of C$151.08.

Insider Activity

In related news, Senior Officer Erminia Johannson sold 4,676 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of C$147.57, for a total value of C$690,023.29. Company insiders own 0.03% of the company’s stock.

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.