Bank of Montreal (BMO) Upgraded to “C$103.93” by Royal Bank of Canada

Bank of Montreal (TSE:BMO) (NYSE:BMO) was upgraded by equities researchers at Royal Bank of Canada from a “sector perform” rating to a “c$103.93” rating in a research note issued to investors on Wednesday. The brokerage currently has a C$124.00 price objective on the bank’s stock, up from their prior price objective of C$120.00. Royal Bank of Canada’s price objective would suggest a potential upside of 19.31% from the stock’s previous close.

BMO has been the topic of several other reports. CIBC cut their price target on shares of Bank of Montreal from C$111.00 to C$109.00 in a research report on Monday, June 11th. Citigroup boosted their price target on shares of Bank of Montreal from C$116.00 to C$120.00 in a research report on Friday, June 1st. Barclays boosted their price target on shares of Bank of Montreal from C$101.00 to C$107.00 in a research report on Thursday, May 31st. Cormark boosted their price target on shares of Bank of Montreal from C$110.00 to C$115.00 in a research report on Thursday, May 31st. Finally, Eight Capital boosted their price target on shares of Bank of Montreal from C$109.00 to C$114.00 in a research report on Thursday, May 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of C$112.00.

BMO opened at C$103.93 on Wednesday. Bank of Montreal has a 52 week low of C$88.63 and a 52 week high of C$105.55.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its earnings results on Wednesday, May 30th. The bank reported C$2.20 EPS for the quarter, topping analysts’ consensus estimates of C$2.15 by C$0.05. The firm had revenue of C$5.62 billion during the quarter, compared to analyst estimates of C$5.52 billion. Bank of Montreal had a net margin of 17.14% and a return on equity of 9.46%.

In other Bank of Montreal news, insider Patrick Cronin sold 24,417 shares of Bank of Montreal stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of C$101.14, for a total transaction of C$2,469,535.38. Also, insider Joanna Michelle Rotenberg sold 3,000 shares of Bank of Montreal stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of C$101.75, for a total transaction of C$305,250.00. Over the last quarter, insiders have sold 117,198 shares of company stock valued at $11,932,764.

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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Analyst Recommendations for Bank of Montreal (TSE:BMO)

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