Bank of Montreal (TSE:BMO) Rating Lowered to Sector Perform at Royal Bank Of Canada

Bank of Montreal (TSE:BMO) (NYSE:BMO) was downgraded by equities researchers at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. They currently have a C$163.00 price objective on the bank’s stock, down from their previous price objective of C$168.00. Royal Bank Of Canada’s price target would indicate a potential downside of 9.45% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Jefferies Financial Group lifted their price objective on Bank of Montreal from C$164.00 to C$173.00 in a report on Wednesday, August 27th. TD Securities lifted their price objective on Bank of Montreal from C$164.00 to C$170.00 and gave the stock a “hold” rating in a report on Wednesday, August 27th. Barclays raised their target price on Bank of Montreal from C$150.00 to C$157.00 in a research note on Wednesday, August 27th. Bank of America raised their target price on Bank of Montreal from C$159.00 to C$176.00 in a research note on Wednesday, August 27th. Finally, National Bankshares set a C$173.00 target price on Bank of Montreal and gave the stock an “outperform” rating in a research note on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$167.00.

Bank of Montreal Stock Performance

Shares of BMO opened at C$180.02 on Friday. The business has a 50-day moving average of C$167.12 and a 200 day moving average of C$150.93. Bank of Montreal has a fifty-two week low of C$121.31 and a fifty-two week high of C$182.90. The firm has a market cap of C$128.95 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 0.71 and a beta of 1.25.

Insider Transactions at Bank of Montreal

In other news, insider Steven Lloyd Tennyson sold 9,072 shares of Bank of Montreal stock in a transaction dated Friday, August 29th. The stock was sold at an average price of C$163.89, for a total transaction of C$1,486,782.86. Following the completion of the sale, the insider owned 21,866 shares in the company, valued at approximately C$3,583,553.14. This trade represents a 29.32% decrease in their position. Also, insider Alan Tannenbaum sold 9,824 shares of Bank of Montreal stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of C$175.12, for a total value of C$1,720,408.35. In the last quarter, insiders have sold 35,883 shares of company stock valued at $5,989,740. 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.