CIBC Has Lowered Expectations for Bank of Montreal (TSE:BMO) Stock Price

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price decreased by equities researchers at CIBC from C$156.00 to C$152.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 6.51% from the stock’s previous close.

BMO has been the topic of several other reports. Jefferies Financial Group upped their target price on shares of Bank of Montreal from C$140.00 to C$155.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Desjardins raised their price target on Bank of Montreal from C$147.00 to C$155.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. Scotiabank dropped their target price on shares of Bank of Montreal from C$160.00 to C$159.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. TD Securities upped their price target on shares of Bank of Montreal from C$145.00 to C$152.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Cibc World Mkts raised shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$149.00.

Bank of Montreal Price Performance

Shares of TSE:BMO traded down C$1.47 during midday trading on Wednesday, reaching C$142.71. 1,343,913 shares of the company’s stock were exchanged, compared to its average volume of 3,123,634. The stock has a market cap of C$103.37 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 0.71 and a beta of 1.16. Bank of Montreal has a fifty-two week low of C$109.02 and a fifty-two week high of C$151.08. The firm’s 50 day simple moving average is C$142.66 and its two-hundred day simple moving average is C$131.91.

Insider Activity

In other news, Senior Officer Nadim Hirji sold 3,238 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of C$148.87, for a total value of C$482,024.87. Also, Director William Darryl White sold 11,376 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of C$140.79, for a total transaction of C$1,601,592.91. Corporate insiders own 0.03% of the company’s stock.

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.