Scotiabank Maintains Their Buy Rating on Bank of Montreal

By Ryan Adsit

Bank of Montreal (TSX: BMO), the Financial sector company, was revisited by a Wall Street analyst today. Analyst Sumit Malhotra from Scotiabank reiterated a Buy rating, with a C$107 price target.

According to TipRanks.com, Malhotra is a 5-star analyst with an average return of 12.0% and a 67.7% success rate. Malhotra covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Toronto Dominion Bank, and Royal Bank Of Canada.

Bank of Montreal has an analyst consensus of Hold, with a price target consensus of C$103.86.

Bank of Montreal’s market cap is currently C$60.78B and has a P/E ratio of 12.2.

Bank of Montreal engages in providing banking and financial services to individuals and institutions. It operates through three groups: Personal and Commercial Banking, Wealth Management and BMO Capital Markets. The Personal and Commercial Banking is comprised of Personal and Commercial Banking Canada and Personal and Commercial Banking U.S., which provides financial solutions for everyday banking, financing, investing, credit cards and creditor insurance, as well as a variety of commercial products and financial advisory services to individuals, small and mid-sized business customers. The Wealth Management offers wealth management products and solutions including insurance products. The BMO Capital Markets group provides equity and debt underwriting, corporate lending and project financing, mergers and acquisitions advisory services, merchant banking, securitization, treasury and market risk management, foreign exchange, derivatives, debt and equity research and institutional sales and trading. Bank of Montreal was founded by Robert Armour, John C. Bush, Austin Cuvillier, George Garden, Horatio Gates, James Leslie, George Moffatt, John Richardson and Thomas A. Turner on June 23, 1817 and is headquartered in Montreal, Canada.

The company’s shares closed last Tuesday at $94.56.