Bank of Montreal Gets a Hold Rating from Barclays

By Austin Angelo

On December 19, an analyst has provided a rating update for the Financial sector company, Bank of Montreal (TSX: BMO). Analyst John Aiken from Barclays rated Bank of Montreal (TSX: BMO) a Hold on on December 19, setting a C$102 price target.

According to TipRanks.com, Aiken is ranked 0 out of 5 stars with an average return of -3.5% and a 40.0% success rate. Aiken covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, National Bank of Canada, and Toronto Dominion Bank.

Currently, the analyst consensus on Bank of Montreal is Hold and the average price target is C$107, representing a 6.2% upside.

In a report issued on December 5, Canaccord Genuity also maintained a Hold rating on the stock with a C$105 price target.

Based on Bank of Montreal’s latest earnings report for the quarter ending October 31, the company posted quarterly revenue of C$7.27 billion and quarterly net profit of C$1.23 billion. In comparison, last year the company earned revenue of C$6.41 billion and had a net profit of C$1.34 billion.

Bank of Montreal engages in providing banking and financial services to individuals and institutions. It operates through the following segments: Canadian Personal and Commercial; United States Personal and Commercial; Wealth Management; BMO Capital Markets.

The company’s shares closed on Friday at C$100.78.