Bank of Montreal (BMO) Lowered to Hold at TD Securities
TD Securities downgraded shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) from a buy rating to a hold rating in a report published on Wednesday morning. The firm currently has C$110.00 price objective on the bank’s stock, down from their prior price objective of C$120.00.
A number of other research firms have also issued reports on BMO. Royal Bank of Canada upped 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 report on Wednesday, August 29th. Barclays dropped their price target on Bank of Montreal from C$105.00 to C$103.00 in a research report on Wednesday. Eight Capital upped their price target on Bank of Montreal from C$119.00 to C$124.00 in a research report on Wednesday, August 29th. Canaccord Genuity dropped their price target on Bank of Montreal from C$118.00 to C$111.00 in a research report on Thursday, November 22nd. Finally, National Bank Financial upped 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 report on Wednesday, August 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Bank of Montreal currently has a consensus rating of Buy and a consensus price target of C$112.27.
BMO stock opened at C$92.71 on Wednesday. Bank of Montreal has a 1 year low of C$92.32 and a 1 year high of C$109.00.
In related news, insider Jean-Michel Ares sold 57,356 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of C$108.46, for a total value 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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