Bank of Montreal (TSE:BMO) PT Lowered to C$75.00 at Credit Suisse Group

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective decreased by investment analysts at Credit Suisse Group from C$80.00 to C$75.00 in a report issued on Friday, Stock Target Advisor reports. Credit Suisse Group’s price target would indicate a potential upside of 16.93% from the stock’s previous close.

Several other research analysts have also recently commented on BMO. TD Securities cut Bank of Montreal from an “action list buy” rating to a “buy” rating and raised their target price for the stock from C$84.00 to C$85.00 in a research report on Tuesday, April 28th. Canaccord Genuity reduced their target price on Bank of Montreal from C$106.00 to C$73.00 in a research report on Wednesday. CSFB reduced their target price on Bank of Montreal from C$80.00 to C$75.00 in a research report on Friday. Scotiabank reduced their target price on Bank of Montreal from C$82.00 to C$73.00 in a research report on Friday. Finally, National Bank Financial increased their price objective on Bank of Montreal to C$78.00 and gave the stock an “outperform” rating in a research note on Sunday, May 17th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of C$87.83.

Shares of BMO traded down C$0.96 during mid-day trading on Friday, hitting C$64.14. The company’s stock had a trading volume of 2,599,025 shares, compared to its average volume of 3,450,580. The firm has a market capitalization of $42.50 billion and a PE ratio of 7.33. Bank of Montreal has a one year low of C$55.76 and a one year high of C$104.75. The stock’s 50-day moving average is C$68.19 and its two-hundred day moving average is C$89.57.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its earnings results on Tuesday, February 25th. The bank reported C$2.41 EPS for the quarter, topping the consensus estimate of C$2.35 by C$0.06. The firm had revenue of C$6.75 billion during the quarter, compared to the consensus estimate of C$5.88 billion. Research analysts expect that Bank of Montreal will post 9.1299997 earnings per share for the current fiscal year.

In other Bank of Montreal news, Director Philip Orsino bought 13,000 shares of the stock in a transaction dated Tuesday, March 10th. The stock was bought at an average cost of C$73.88 per share, for a total transaction of C$960,375.00. Following the completion of the purchase, the director now owns 88,000 shares in the company, valued at approximately C$6,501,000. Also, Director Ron Farmer bought 2,500 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of C$91.30 per share, with a total value of C$228,250.00. Following the completion of the purchase, the director now owns 6,500 shares of the company’s stock, valued at approximately C$593,450. Insiders have acquired 32,000 shares of company stock valued at $2,223,736 over the last quarter.

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, 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, as well as wealth management products and services, such as insurance products.

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