Bank of Montreal (BMO) Price Target Cut to C$103.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price cut by equities researchers at Barclays from C$105.00 to C$103.00 in a research note issued on Wednesday. Barclays’ target price would suggest a potential upside of 9.32% from the stock’s previous close.

Several other brokerages also recently weighed in on BMO. Canaccord Genuity decreased their target price on shares of Bank of Montreal from C$118.00 to C$111.00 in a research note on Thursday, November 22nd. National Bank Financial increased their target price on shares of Bank of Montreal from C$108.00 to C$115.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 29th. Eight Capital increased their target price on shares of Bank of Montreal from C$119.00 to C$124.00 in a research note on Wednesday, August 29th. Royal Bank of Canada increased their target price on shares of Bank of Montreal from C$124.00 to C$126.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 29th. Finally, CIBC increased their target price on shares of Bank of Montreal from C$109.00 to C$111.00 in a research note on Wednesday, August 29th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Bank of Montreal has an average rating of “Buy” and an average target price of C$112.92.

Shares of BMO stock traded down C$0.97 during mid-day trading on Wednesday, hitting C$94.22. 1,139,480 shares of the stock were exchanged, compared to its average volume of 1,363,565. Bank of Montreal has a 12-month low of C$93.60 and a 12-month high of C$109.00.

In related news, insider Jean-Michel Ares sold 57,356 shares of the firm’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of C$108.46, for a total value of C$6,220,831.76.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.

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