Canadian Imperial Bank of Commerce Lowers Bank of Montreal (TSE:BMO) Price Target to C$261.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price cut by investment analysts at Canadian Imperial Bank of Commerce from C$272.00 to C$261.00 in a research report issued on Thursday, BayStreet reports. The brokerage presently has a “neutral” rating on the bank’s stock. Canadian Imperial Bank of Commerce’s target price would suggest a potential upside of 7.17% from the stock’s previous close.

Several other equities research analysts have also recently commented on BMO. Barclays boosted their price target on shares of Bank of Montreal from C$203.00 to C$240.00 in a research report on Friday, August 21st. TD raised their price objective on shares of Bank of Montreal from C$239.00 to C$263.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada lifted their price objective on shares of Bank of Montreal from C$230.00 to C$241.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 26th. Canaccord Genuity Group boosted their target price on shares of Bank of Montreal from C$265.00 to C$271.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Finally, Scotiabank increased their target price on shares of Bank of Montreal from C$234.00 to C$239.00 and gave the company a “sector outperform” rating in a research note on Tuesday, June 16th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Bank of Montreal presently has an average rating of “Hold” and an average price target of C$256.57.

Bank of Montreal Stock Performance

Shares of BMO stock traded up C$4.24 during mid-day trading on Thursday, hitting C$243.53. 579,043 shares of the stock traded hands, compared to its average volume of 2,457,803. Bank of Montreal has a twelve month low of C$168.92 and a twelve month high of C$259.20. The company’s 50-day simple moving average is C$249.25 and its 200-day simple moving average is C$222.22. The firm has a market cap of C$169.78 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 0.71 and a beta of 1.22.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings data on Tuesday, August 25th. The bank reported C$3.96 earnings per share for the quarter. Bank of Montreal had a return on equity of 10.58% and a net margin of 11.75%.The business had revenue of C$9.96 billion during the quarter. Analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current year.

Insider Buying and Selling at Bank of Montreal

In other news, Director Tayfun Tuzun sold 20,300 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of C$236.69, for a total transaction of C$4,804,807.00. Also, insider Mona Elizabeth Malone sold 4,517 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of C$244.61, for a total value of C$1,104,903.37. Following the completion of the transaction, the insider owned 1,758 shares of the company’s stock, valued at C$430,024.38. This trade represents a 71.98% decrease in their position. Over the last ninety days, insiders have sold 41,452 shares of company stock valued at $9,886,849. 0.03% of the stock is currently owned by company insiders.

Bank of Montreal Company Profile

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.