Bank of Montreal (BMO), North America’s 8th largest bank, has been recognized by World Finance Magazine as the Best Private Bank for the 11th consecutive year and the Best Commercial Bank in Canada for the 7th year in a row.
BMO won the awards for the innovative and customer-centric approach of both groups, their commitment to digital transformation and experience, and their overall understanding of market trends and changing customer needs, particularly during the COVID-19 pandemic.
Nadim Hirji, Co-Head, Canadian Commercial Banking, BMO Financial Group, said, “Especially in a year characterized by so much change, we’re proud to be recognized as the best Commercial Bank in Canada. This award speaks to our team’s continued focus and commitment to our clients – keeping them at the centre of everything we do – and our expertise across industries in providing tailored products and services to meet their evolving and unique needs.”
Christine Cooper, Co-Head, Canadian Commercial Banking, BMO Financial Group, added that the bank will continue to seek opportunities to provide top-notch advice and support to its clients as true partners on the path to recovery and growth in the post-pandemic economy. (See Bank of Montreal stock chart on TipRanks)
Last week, 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 7.9% 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 BMO price target of C$136.51 implies 6.8% upside potential to current levels.
TipRanks’ Smart Score
BMO scores an 8 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock returns have good chances to beat the overall market.