Bank of Montreal (BMO) Downgraded by Eight Capital to “Neutral”
Eight Capital cut shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) from a buy rating to a neutral rating in a report issued on Wednesday. Eight Capital currently has C$117.00 target price on the bank’s stock, down from their prior target price of C$124.00.
A number of other equities analysts have also issued reports on the company. CIBC increased their price target on Bank of Montreal from C$109.00 to C$111.00 in a research note on Wednesday, August 29th. Royal Bank of Canada increased their price target on Bank of Montreal from C$124.00 to C$126.00 and gave the company an outperform rating in a research note on Wednesday, August 29th. National Bank Financial increased their price target on Bank of Montreal from C$108.00 to C$115.00 and gave the company an outperform rating in a research note on Wednesday, August 29th. Barclays decreased their price target on Bank of Montreal from C$105.00 to C$103.00 in a research note on Wednesday. Finally, Canaccord Genuity raised Bank of Montreal from a hold rating to a buy rating and increased their price target for the company from C$111.00 to C$118.00 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. The stock has a consensus rating of Buy and an average target price of C$112.92.
Shares of TSE BMO opened at C$93.99 on Wednesday. Bank of Montreal has a 1 year low of C$93.59 and a 1 year high of C$109.00.
In other news, insider Jean-Michel Ares sold 57,356 shares of the stock in a transaction on Friday, September 21st. The stock was sold at an average price of C$108.46, for a total transaction of C$6,220,831.76.
Bank of Montreal Company Profile
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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