Bank of Montreal (TSE:BMO) Downgraded by Cibc World Mkts to “Hold”

Bank of Montreal (TSE:BMO) (NYSE:BMO) was downgraded by research analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a report released on Friday,Zacks.com reports.

BMO has been the topic of several other research reports. Canaccord Genuity Group lifted their price target on shares of Bank of Montreal from C$154.00 to C$165.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group upped their price target on Bank of Montreal from C$143.00 to C$148.00 in a research note on Friday, December 6th. Jefferies Financial Group increased their price target on Bank of Montreal from C$140.00 to C$155.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th. Royal Bank of Canada set a C$163.00 price objective on shares of Bank of Montreal and gave the company an “outperform” rating in a report on Monday, March 17th. Finally, CIBC lowered shares of Bank of Montreal from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from C$152.00 to C$141.00 in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$148.15.

Bank of Montreal Trading Down 6.1 %

Bank of Montreal stock opened at C$127.04 on Friday. The company has a 50-day moving average price of C$141.56 and a 200 day moving average price of C$135.54. Bank of Montreal has a 12-month low of C$109.02 and a 12-month high of C$151.08. The stock has a market cap of C$92.02 billion, a P/E ratio of 12.54, a PEG ratio of 0.71 and a beta of 1.16.

Insider Activity

In related news, Senior Officer Nadim Hirji sold 3,238 shares of the company’s 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 transaction of C$482,024.87. Insiders own 0.03% of the company’s stock.

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.