Scotiabank Increases Bank of Montreal (TSE:BMO) Price Target to C$147.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price lifted by equities researchers at Scotiabank from C$112.00 to C$147.00 in a report released on Monday,BayStreet.CA reports. Scotiabank’s target price indicates a potential upside of 10.67% from the company’s previous close.

Other analysts have also issued research reports about the company. Canaccord Genuity Group increased their price objective on Bank of Montreal from C$125.00 to C$143.00 in a research note on Tuesday, November 19th. National Bankshares upped their target price on Bank of Montreal from C$127.00 to C$148.00 in a report on Wednesday, November 20th. Bank of America downgraded Bank of Montreal from a “buy” rating to a “neutral” rating and decreased their target price for the company from C$134.00 to C$117.00 in a report on Wednesday, August 28th. Royal Bank of Canada decreased their target price on Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating for the company in a report on Wednesday, August 28th. Finally, Desjardins decreased their target price on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a report on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$128.50.

Bank of Montreal Stock Performance

TSE:BMO opened at C$132.83 on Monday. The firm has a market cap of C$96.89 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. Bank of Montreal has a fifty-two week low of C$107.16 and a fifty-two week high of C$134.16. The business has a 50 day moving average price of C$126.52 and a 200-day moving average price of C$121.25.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its quarterly earnings data on Tuesday, August 27th. The bank reported C$2.64 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.72 by C($0.08). The company had revenue of C$8.19 billion for the quarter, compared to analysts’ expectations of C$8.23 billion. Bank of Montreal had a net margin of 21.20% and a return on equity of 8.49%. Research analysts predict that Bank of Montreal will post 9.6514585 EPS for the current year.

Insiders Place Their Bets

In other news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$112.16, for a total transaction of C$886,977.10. Also, Senior Officer David Robert Casper sold 12,819 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total value of C$1,562,007.97. 0.03% of the stock is owned by corporate insiders.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.