Bank of Montreal (TSE:BMO) Stock Rating Upgraded by Scotiabank

Bank of Montreal (TSE:BMO) (NYSE:BMO) was upgraded by Scotiabank from a “sector perform” rating to an “outperform” rating in a note issued to investors on Friday, Marketbeat reports. The brokerage presently has a C$160.00 price target on the bank’s stock, up from their prior price target of C$147.00. Scotiabank’s price target indicates a potential upside of 9.35% from the stock’s previous close.

A number of other research firms also recently issued reports on BMO. CIBC increased their target price on shares of Bank of Montreal from C$120.00 to C$134.00 in a research report on Tuesday, November 26th. Bank of America lowered Bank of Montreal from a “buy” rating to a “neutral” rating and cut their price objective for the stock from C$134.00 to C$117.00 in a report on Wednesday, August 28th. Royal Bank of Canada lowered their target price on Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 28th. Cormark reduced their price target on Bank of Montreal from C$129.00 to C$118.00 in a report on Wednesday, August 28th. Finally, Desjardins lowered their price target on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a research note on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$131.33.

Bank of Montreal Price Performance

Shares of BMO opened at C$146.32 on Friday. The business’s 50-day moving average is C$128.88 and its 200-day moving average is C$121.72. The company has a market capitalization of C$106.73 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 0.71 and a beta of 1.16. Bank of Montreal has a fifty-two week low of C$109.02 and a fifty-two week high of C$147.54.

Insider Activity at Bank of Montreal

In other Bank of Montreal news, Senior Officer David Robert Casper sold 12,819 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was 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 currently owned by company insiders.

Bank of Montreal Company Profile

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.