Scotiabank Forecasts Strong Price Appreciation for Bank of Montreal (TSE:BMO) Stock

by · The Markets Daily

Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) had its target price hoisted by investment analysts at Scotiabank from C$179.00 to C$187.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the bank’s stock. Scotiabank’s price objective suggests a potential upside of 5.10% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Raymond James Financial set a C$182.00 price objective on shares of Bank of Montreal and gave the stock a “market perform” rating in a report on Tuesday, November 25th. Canaccord Genuity Group upped their target price on shares of Bank of Montreal from C$192.00 to C$201.00 in a report on Friday. Bank of America lifted their price target on Bank of Montreal from C$179.00 to C$183.00 in a research note on Friday. Natl Bk Canada lowered Bank of Montreal from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, CIBC raised their target price on Bank of Montreal from C$180.00 to C$192.00 in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Bank of Montreal currently has a consensus rating of “Hold” and an average target price of C$178.77.

View Our Latest Stock Report on Bank of Montreal

Bank of Montreal Price Performance

Shares of BMO stock traded up C$1.11 on Friday, reaching C$177.93. 1,415,484 shares of the company were exchanged, compared to its average volume of 2,769,522. The company has a 50-day moving average of C$176.03 and a 200-day moving average of C$163.56. The company has a market cap of C$127.45 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 0.71 and a beta of 1.39. Bank of Montreal has a one year low of C$121.31 and a one year high of C$182.90.

Bank of Montreal (TSE:BMO – Get Free Report) (NYSE:BMO) last announced its quarterly earnings results on Thursday, December 4th. The bank reported C$3.28 earnings per share (EPS) for the quarter. Bank of Montreal had a return on equity of 9.04% and a net margin of 13.57%.The business had revenue of C$9.34 billion for the quarter. As a group, sell-side analysts predict that Bank of Montreal will post 9.6514585 EPS for the current year.

Insider Activity

In related news, insider Alan Tannenbaum sold 9,824 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of C$175.12, for a total transaction of C$1,720,408.35. 0.03% of the stock is currently owned by corporate insiders.

Bank of Montreal Company Profile

(Get Free Report)

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.

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