BMO Financial Group (BMO) announced on Monday that together with Deloitte, it would expand its 2021 Grant Program for women-owned businesses across North America. Canada’s fourth-largest bank has committed to giving C$200,000 in grants to 26 businesses owned by women across North America for their contributions to social, environmental, or economic sustainability as part of this year’s program, BMO Celebrating Women.
Erminia (Ernie) Johannson, Group Head, North American Personal and Business Banking, BMO Financial Group, said, “We are excited to build on the momentum and success of our Grant Program last year and expand our support for women entrepreneurs across North America. This is an opportunity to remove barriers for women-owned businesses and to help those already leading positive change in their communities to grow the good. This year, we’re awarding grants to women-owned businesses that are advancing social, environmental, or economic sustainability, and we continue to look for new and bold ways to support and advance women in business.”
Applications will be accepted from July 26 to August 13, 2021. Grant winners will be announced in November. To facilitate the selection process for grant recipients, BMO is working with key strategic partners and sustainability leaders across North America to form this year’s Advisory Panel of Judges. (See Bank of Montreal stock charts on TipRanks)
On June 23, CIBC analyst Paul Holden kept a Buy rating on BMO while raising its price target to C$138.00 (from C$136.00). This implies 9.2% upside potential.
The rest of the Street is cautiously optimistic with a Moderate Buy consensus rating based on 7 Buys, 2 Holds, and 1 Sell. The average Bank of Montreal price target of C$136.51 implies 8% upside potential to current levels.