Bank of Montreal (TSE:BMO) Raised to Strong-Buy at Cibc World Mkts

Bank of Montreal (TSE:BMO) (NYSE:BMO) was upgraded by stock analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

Several other research firms also recently weighed in on BMO. Desjardins cut their price objective on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating on the stock in a report on Wednesday, August 28th. Cormark cut their price objective on Bank of Montreal from C$129.00 to C$118.00 in a report on Wednesday, August 28th. National Bankshares raised their price objective on Bank of Montreal from C$127.00 to C$148.00 in a report on Wednesday, November 20th. CIBC raised Bank of Montreal from a “neutral” rating to an “outperform” rating and raised their price objective for the company from C$134.00 to C$150.00 in a report on Friday. Finally, Royal Bank of Canada cut 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 report on Wednesday, August 28th. Six research 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 stock. Based on data from MarketBeat.com, 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 %

TSE BMO opened at C$146.32 on Friday. Bank of Montreal has a twelve month low of C$109.02 and a twelve month high of C$147.54. The company has a market cap of C$106.73 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The business’s fifty day moving average is C$128.88 and its 200 day moving average is C$121.72.

Insider Buying and Selling

In other Bank of Montreal news, Senior Officer David Robert Casper sold 12,819 shares of the business’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 transaction of C$1,562,007.97. 0.03% of the stock is 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.