Bank of Montreal (TSE:BMO) Price Target Lowered to C$106.00 at Royal Bank of Canada

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective lowered by investment analysts at Royal Bank of Canada from C$118.00 to C$106.00 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s target price indicates a potential downside of 3.72% from the stock’s current price.

A number of other brokerages also recently issued reports on BMO. Scotiabank cut their target price on Bank of Montreal from C$129.00 to C$123.00 in a research note on Monday, August 19th. Keefe, Bruyette & Woods lowered shares of Bank of Montreal from a “moderate buy” rating to a “hold” rating in a research report on Monday, June 3rd. National Bankshares cut their price objective on shares of Bank of Montreal from C$136.00 to C$131.00 and set an “outperform” rating on the stock in a report on Friday, August 16th. TD Securities reduced their price objective on Bank of Montreal from C$134.00 to C$130.00 in a research note on Thursday, August 8th. Finally, Cormark reduced their target price on shares of Bank of Montreal from C$133.00 to C$129.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bank of Montreal has a consensus rating of “Hold” and an average target price of C$121.00.

Bank of Montreal Trading Down 1.7 %

TSE BMO traded down C$1.94 during trading hours on Wednesday, reaching C$110.10. The company had a trading volume of 2,223,302 shares, compared to its average volume of 2,802,113. The stock has a market capitalization of C$80.29 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 0.54 and a beta of 1.16. Bank of Montreal has a 1-year low of C$102.67 and a 1-year high of C$133.95. The stock has a 50-day moving average of C$116.25 and a 200 day moving average of C$122.69.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings results on Wednesday, May 29th. The bank reported C$2.59 earnings per share 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 company had revenue of C$7.97 billion during the quarter, compared to analysts’ expectations of C$8.06 billion. As a group, sell-side analysts predict that Bank of Montreal will post 11.6437811 EPS for the current 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.