Bank of Montreal (TSE:BMO) Price Target Raised to C$148.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target lifted by equities research analysts at National Bankshares from C$127.00 to C$148.00 in a research report issued on Wednesday,BayStreet.CA reports. National Bankshares’ target price points to a potential upside of 12.79% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. CIBC increased their target price on Bank of Montreal from C$116.00 to C$120.00 in a research note on Friday, September 6th. Scotiabank cut Bank of Montreal from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$123.00 to C$112.00 in a research report on Wednesday, August 28th. Desjardins reduced 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. Jefferies Financial Group lowered their price target on Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and dropped their price target for the company from C$134.00 to C$117.00 in a report on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$124.69.

Bank of Montreal Stock Down 0.1 %

Shares of TSE BMO traded down C$0.19 during mid-day trading on Wednesday, reaching C$131.22. 316,022 shares of the company were exchanged, compared to its average volume of 2,905,582. The stock has a market capitalization of C$95.71 billion, a PE ratio of 15.10, a PEG ratio of 0.71 and a beta of 1.16. Bank of Montreal has a 52 week low of C$107.16 and a 52 week high of C$133.95. The company’s 50 day moving average price is C$124.56 and its 200 day moving average price is C$120.93.

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 the consensus estimate of C$2.72 by C($0.08). Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. The business had revenue of C$8.19 billion during the quarter, compared to analysts’ expectations of C$8.23 billion. On average, sell-side analysts predict that Bank of Montreal will post 9.6514585 earnings per share for the current year.

Insider Activity

In related news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the stock in a transaction dated 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 stock in a transaction dated 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. Company insiders own 0.03% of the company’s stock.

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.