CIBC Upgrades Bank of Montreal (TSE:BMO) to Outperform

Bank of Montreal (TSE:BMO) (NYSE:BMO) was upgraded by equities research analysts at CIBC from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a C$150.00 target price on the bank’s stock, up from their prior target price of C$134.00. CIBC’s target price would indicate a potential upside of 2.52% from the stock’s previous close.

Several other analysts have also weighed in on the company. TD Securities raised their price objective on shares of Bank of Montreal from C$114.00 to C$131.00 in a research note on Friday, November 15th. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$147.00 to C$160.00 in a report on Friday. Jefferies Financial Group decreased their target price on Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Canaccord Genuity Group upped their price target on shares of Bank of Montreal from C$125.00 to C$143.00 in a report on Tuesday, November 19th. Finally, Royal Bank of Canada reduced their price target on shares of 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. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Bank of Montreal currently has a consensus rating of “Moderate Buy” and an average target price of C$131.33.

Bank of Montreal Stock Up 4.7 %

Shares of Bank of Montreal stock opened at C$146.32 on Friday. The business has a 50-day moving average price of C$128.88 and a 200-day moving average price of C$121.72. Bank of Montreal has a twelve month low of C$109.02 and a twelve month high of C$147.54. The firm has a market cap of C$106.73 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 0.71 and a beta of 1.16.

Insider Transactions at Bank of Montreal

In other news, Senior Officer David Robert Casper sold 12,819 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total transaction 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.