CIBC Reiterates Their Hold Rating on Bank of Montreal

Bank of Montreal (TSX: BMO), the Financial sector company was revisited on June 8, yet the Wall Street analyst remains currently on the sidelines. Analyst Robert Sedran from CIBC remains neutral on the stock.

According to TipRanks.com, Sedran is ranked #1474 out of 4828 analysts.

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Currently, the analyst consensus on Bank of Montreal is Hold and the average price target is C$106.50, representing a 4.2% upside.

In a report issued on May 30, Canaccord Genuity also assigned a Hold rating to the stock with a C$106 price target.

Based on Bank of Montreal’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of C$7.64 billion and net profit of C$1.25 billion. In comparison, last year the company earned revenue of C$7.07 billion and had a net profit of C$1.25 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$102.17.