Barclays Sticks to Its Hold Rating for Bank of Montreal (BMO)

By Austin Angelo

In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, Bank of Montreal (BMOResearch Report). Analyst John Aiken from Barclays remains neutral on the stock and has a C$103 price target.

According to TipRanks.com, Aiken is a 1-star analyst with an average return of -1.8% and a 38.9% success rate. Aiken covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and National Bank of Canada.

Bank of Montreal has an analyst consensus of Moderate Buy, with a price target consensus of C$107.29.

Based on Bank of Montreal’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of C$8.65 billion and net profit of C$1.7 billion. In comparison, last year the company earned revenue of C$7.47 billion and had a net profit of C$973 million.

Bank of Montreal engages in the provision of banking and financial services to individuals and institutions. It operates through the following segments: Canadian Personal and Commercial Banking (Canadian P&C); United States Personal and Commercial Banking (U.S. P&C); Wealth Management; BMO Capital Markets; and Corporate Services.

The company’s shares closed on Tuesday at C$101.66.