Bank of Montreal (TSE:BMO) Upgraded by Royal Bank of Canada to Outperform Rating

Bank of Montreal (TSE:BMO) (NYSE:BMO) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a C$161.00 price target on the bank’s stock, up from their prior price target of C$133.00. Royal Bank of Canada’s target price indicates a potential upside of 13.30% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. TD Securities lifted their price objective on Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. CIBC raised Bank of Montreal from a “neutral” rating to an “outperform” rating and lifted their price target for the company from C$134.00 to C$150.00 in a report on Friday, December 6th. Scotiabank upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$147.00 to C$160.00 in a research report on Friday, December 6th. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Canaccord Genuity Group upped their target price on shares of Bank of Montreal from C$143.00 to C$148.00 in a research report on Friday, December 6th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$135.92.

Bank of Montreal Trading Up 2.1 %

BMO stock traded up C$2.98 during trading on Wednesday, hitting C$142.10. 1,175,854 shares of the stock traded hands, compared to its average volume of 1,565,044. The stock has a market cap of C$103.65 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 0.71 and a beta of 1.16. Bank of Montreal has a one year low of C$109.02 and a one year high of C$147.54. The company has a 50 day simple moving average of C$135.27 and a 200 day simple moving average of C$124.21.

Insiders Place Their Bets

In other Bank of Montreal news, Director William Darryl White sold 11,376 shares of Bank of Montreal stock in a transaction dated Friday, December 13th. The stock was sold at an average price of C$140.79, for a total value of C$1,601,592.91. Corporate insiders own 0.03% of the company’s stock.

About Bank of Montreal

Bank of Montreal is a diversified financial-services provider based in North America, operating four business segments: Canadian personal and commercial banking, U.S. P&C banking, wealth management, and capital markets.