Royal Bank of Canada Lowers Bank of Montreal (TSE:BMO) Price Target to C$161.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target reduced by Royal Bank of Canada from C$163.00 to C$161.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the bank’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 8.64% from the company’s previous close.

Other equities analysts also recently issued reports about the company. CIBC lifted their target price on Bank of Montreal from C$150.00 to C$156.00 and gave the company a “neutral” rating in a research report on Thursday. Desjardins increased their price objective on Bank of Montreal from C$147.00 to C$155.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. TD Securities increased their price target on Bank of Montreal from C$145.00 to C$152.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. Cibc World Mkts downgraded Bank of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, UBS Group reduced their price objective on Bank of Montreal from C$160.00 to C$145.00 in a report on Thursday, May 22nd. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$145.62.

Bank of Montreal Trading Down 0.1%

BMO traded down C$0.10 during midday trading on Monday, hitting C$148.19. 522,625 shares of the company were exchanged, compared to its average volume of 3,200,411. The firm has a market capitalization of C$107.33 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The company’s 50 day simple moving average is C$136.70 and its 200 day simple moving average is C$139.35. Bank of Montreal has a 1-year low of C$109.02 and a 1-year high of C$151.08.

About Bank of Montreal

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.