National Bank Financial Lowers Bank of Montreal (TSE:BMO) Price Target to C$76.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective dropped by equities researchers at National Bank Financial from C$107.00 to C$76.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the bank’s stock. National Bank Financial’s price objective points to a potential upside of 8.60% from the stock’s previous close.

BMO has been the subject of a number of other reports. CSFB lowered their price objective on Bank of Montreal from C$102.00 to C$98.00 in a research report on Thursday, March 5th. TD Securities upgraded Bank of Montreal from a “hold” rating to an “action list buy” rating and lowered their price objective for the stock from C$99.00 to C$84.00 in a research report on Friday, March 20th. Credit Suisse Group lowered their price objective on Bank of Montreal from C$102.00 to C$98.00 in a research report on Thursday, March 5th. Royal Bank of Canada lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$109.00 to C$98.00 in a research report on Wednesday, February 26th. Finally, Scotiabank lowered their price objective on Bank of Montreal from C$110.00 to C$107.00 in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of C$99.83.

Shares of BMO stock opened at C$69.98 on Wednesday. The stock has a 50-day moving average price of C$86.44 and a 200 day moving average price of C$96.32. The firm has a market cap of $39.82 billion and a price-to-earnings ratio of 8.00. Bank of Montreal has a 12 month low of C$55.76 and a 12 month high of C$106.51.

In related news, Director Ron Farmer bought 2,500 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of C$91.30 per share, for a total transaction of C$228,250.00. Following the transaction, the director now owns 6,500 shares of the company’s stock, valued at C$593,450. Also, Director Don Matthew Wilson Iii bought 16,500 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were bought at an average price of C$62.73 per share, with a total value of C$1,035,111.00. Following the completion of the transaction, the director now directly owns 30,000 shares in the company, valued at approximately C$1,882,020. Insiders have bought a total of 32,000 shares of company stock valued at $2,223,736 over the last 90 days.

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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