Scotiabank Increases Bank of Montreal (TSE:BMO) Price Target to C$147.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective increased by equities research analysts at Scotiabank from C$112.00 to C$147.00 in a note issued to investors on Monday,BayStreet.CA reports. Scotiabank’s price objective would suggest a potential upside of 10.67% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. CIBC boosted their price objective on Bank of Montreal from C$116.00 to C$120.00 in a research note on Friday, September 6th. Royal Bank of Canada lowered their price objective 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. National Bankshares boosted their price objective on Bank of Montreal from C$127.00 to C$148.00 in a research note on Wednesday, November 20th. Cormark decreased their price target on Bank of Montreal from C$129.00 to C$118.00 in a research report on Wednesday, August 28th. Finally, TD Securities upped their price target on Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Bank of Montreal has a consensus rating of “Hold” and an average target price of C$128.50.

Bank of Montreal Stock Performance

Shares of TSE:BMO opened at C$132.83 on Monday. The company’s 50-day moving average is C$126.52 and its 200 day moving average is C$121.25. The company has a market capitalization of C$96.89 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. Bank of Montreal has a fifty-two week low of C$107.16 and a fifty-two week high of C$134.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings results on Tuesday, August 27th. The bank reported C$2.64 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.72 by C($0.08). Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. The company had revenue of C$8.19 billion during the quarter, compared to analysts’ expectations of C$8.23 billion. As a group, research analysts predict that Bank of Montreal will post 9.6514585 earnings per share for the current year.

Insider Transactions at Bank of Montreal

In other news, Senior Officer David Robert Casper sold 12,819 shares of the business’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. Also, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$112.16, for a total value of C$886,977.10. 0.03% of the stock is owned by insiders.

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.