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

Bank of Montreal (TSE:BMO) (NYSE:BMO) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has a C$161.00 price objective on the bank’s stock, up from their previous price objective of C$133.00. Royal Bank of Canada’s target price suggests a potential upside of 13.68% from the company’s current price.

A number of other brokerages have also issued reports on BMO. CIBC raised shares of Bank of Montreal from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from C$134.00 to C$150.00 in a research report on Friday, December 6th. TD Securities boosted their price objective on shares of Bank of Montreal from C$114.00 to C$131.00 in a report on Friday, November 15th. Scotiabank upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$147.00 to C$160.00 in a research note on Friday, December 6th. Canaccord Genuity Group boosted their price target on Bank of Montreal from C$143.00 to C$148.00 in a research note on Friday, December 6th. Finally, Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Five research 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$135.92.

Bank of Montreal Stock Up 0.1 %

BMO opened at C$141.63 on Wednesday. Bank of Montreal has a 12-month low of C$109.02 and a 12-month high of C$147.54. The firm has a market capitalization of C$103.31 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The stock’s 50 day moving average price is C$135.79 and its two-hundred day moving average price is C$124.52.

Insiders Place Their Bets

In related news, Director William Darryl White sold 11,376 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of C$140.79, for a total transaction 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.