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

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price lifted by Royal Bank of Canada from C$161.00 to C$163.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the bank’s stock. Royal Bank of Canada’s target price suggests a potential upside of 9.57% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Desjardins increased their price objective on shares of Bank of Montreal from C$147.00 to C$155.00 and gave the company a “hold” rating in a research note on Wednesday. TD Securities increased their price objective on shares of Bank of Montreal from C$145.00 to C$152.00 and gave the company a “hold” rating in a research note on Wednesday. CIBC increased their price objective on shares of Bank of Montreal from C$150.00 to C$154.00 in a research note on Tuesday, February 18th. Canaccord Genuity Group increased their price objective on shares of Bank of Montreal from C$143.00 to C$148.00 in a research note on Friday, December 6th. Finally, Jefferies Financial Group increased their price objective on shares of Bank of Montreal from C$126.00 to C$140.00 in a research note on Tuesday, February 18th. Six 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$148.23.

Bank of Montreal Price Performance

BMO opened at C$148.76 on Wednesday. Bank of Montreal has a fifty-two week low of C$109.02 and a fifty-two week high of C$151.08. The firm has a market capitalization of C$107.75 billion, a PE ratio of 14.68, a P/E/G ratio of 0.71 and a beta of 1.16. The company’s 50-day moving average is C$142.20 and its 200 day moving average is C$131.03.

Insider Buying and Selling

In related news, Director William Darryl White sold 11,376 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of C$140.79, for a total value of C$1,601,592.91. 0.03% of the stock is owned by insiders.

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.