As a result of the COVID-19 pandemic and ensuing lockdowns, business owners have experienced new stresses, both professionally and personally. To help them, BMO Financial Group (BMO), North America’s 8th largest bank, announced on Monday that it is expanding its wellness services, already available to its team members, to Canadian business owners and entrepreneurs across Canada.
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Mike Bonner, Head, Canadian Business Banking, BMO Bank of Montreal, said, “BMO has been a major proponent of championing mental health in the workplace, providing resources and support, and seeing it as part of someone’s overall health. We saw the challenges and strain that the pandemic was putting on clients and recognized that, in order to help businesses thrive, we needed to do more than just support them financially. We’re providing our wellness services to our clients to support Canada’s main street businesses more holistically.”
The services, provided by LifeWorks, feature resources for general well-being, including mental, physical, social, and financial health. Corporate clients will be able to access wellness services and resources from July 19, 2021, to December 31, 2021, by visiting bmo.com/lifeworks. (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 12.8% 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 11.6% upside potential to current levels.
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