Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, BayStreet.CA reports. They currently have a C$114.00 price objective on the bank’s stock, down from their prior price objective of C$130.00. TD Securities’ target price points to a potential upside of 3.54% from the company’s current price.
Other equities research analysts also recently issued reports about the stock. CIBC cut their price objective on shares of Bank of Montreal from C$120.00 to C$116.00 and set a “neutral” rating for the company in a research report on Wednesday. Royal Bank of Canada cut their price objective on shares of Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating for the company in a research report on Wednesday. Desjardins cut their price objective on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a research report on Wednesday. Scotiabank cut their price objective on shares of Bank of Montreal from C$129.00 to C$123.00 in a research report on Monday, August 19th. Finally, UBS Group set a C$122.00 price target on shares of Bank of Montreal and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$121.00.
Read Our Latest Report on Bank of Montreal
Bank of Montreal Stock Down 1.7 %
Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) last posted its quarterly earnings data 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). Bank of Montreal had a return on equity of 8.19% and a net margin of 20.07%. The business had revenue of C$7.97 billion for the quarter, compared to analyst estimates of C$8.06 billion. As a group, equities analysts expect that Bank of Montreal will post 11.6437811 earnings per share for the current 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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