Bank of Montreal (TSE:BMO) Price Target Cut to C$116.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price decreased by analysts at CIBC from C$120.00 to C$116.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage currently has a “neutral” rating on the bank’s stock.

A number of other equities analysts also recently issued reports on BMO. Barclays cut their price target on shares of Bank of Montreal from C$140.00 to C$132.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. UBS Group set a C$122.00 price target on shares of Bank of Montreal and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Royal Bank of Canada downgraded shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$124.00 to C$118.00 in a report on Tuesday, July 30th. Desjardins cut their price target on shares of Bank of Montreal from C$129.00 to C$125.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Finally, Canaccord Genuity Group dropped their target price on shares of Bank of Montreal from C$136.00 to C$135.00 in a report on Tuesday, August 13th. Eight equities research 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, the company currently has an average rating of “Hold” and an average target price of C$121.00.

Bank of Montreal Stock Performance

The stock has a market cap of C$81.61 billion, a P/E ratio of 12.87, a P/E/G ratio of 0.54 and a beta of 1.16. Bank of Montreal has a 12-month low of C$102.67 and a 12-month high of C$133.95. The stock’s 50 day moving average price is C$116.08 and its two-hundred day moving average price is C$122.52.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced 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). The firm had revenue of C$7.97 billion for the quarter, compared to analysts’ expectations of C$8.06 billion. Bank of Montreal had a return on equity of 8.19% and a net margin of 21.21%. As a group, equities analysts anticipate that Bank of Montreal will post 11.472973 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.