BMO Capital Markets, the investment banking subsidiary of Bank of Montreal (BMO), has announced it will hold its 17th annual Equity Through Education (ETE) trading day on September 22.
Every year, BMO gives a full day’s value of commissions related to equity trades on behalf of institutional investors in North America and Europe to charities that provide scholarships, mentorship programs, and development opportunities to less fortunate students.
“For 17 years BMO has partnered with charities to raise money through our Equity Through Education Trading day program, promoting diversity and inclusion through financial aid and development programs that help bright and deserving students achieve their potential,” said Dan Barclay, CEO and Group Head, BMO Capital Markets.
“We’ve been fortunate to hire a number of students who have benefited from these programs and we’re excited about the contributions they will make to BMO.”
Partners of the ETE program include Say Yes to Education, Indspire, Lime Connect, The Jackie Robinson Foundation, Imperial College London, the Loran Scholars Foundation, the Women in Capital Markets Return to Bay Street program, and the Financial Women’s Association which, through its FWA/BMO Capital Markets Baruch Mentorship Program, has been mentoring and training students for 20 years.
Since its inception in 2005, the program has raised more than C$26 million, and helped more than 5,000 students. (See Bank of Montreal stock charts on TipRanks)
On September 1, Credit Suisse analyst Mike Rizvanovic maintained a Buy rating on BMO, with a price target of C$147. This implies 14.7% upside potential.
The rest of the Street is cautiously optimistic, with a Moderate Buy consensus rating, based on seven Buys and three Holds. The average Bank of Montreal price target of C$140.38 implies 9.5% upside potential to current levels.
TipRanks’ Smart Score
BMO scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock returns have good chances to beat the overall market.