National Bankshares Forecasts Strong Price Appreciation for Bank of Montreal (TSE:BMO) Stock

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective hoisted by stock analysts at National Bankshares from C$153.00 to C$161.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the bank’s stock. National Bankshares’ price objective suggests a potential upside of 8.23% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Royal Bank of Canada raised Bank of Montreal from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$133.00 to C$161.00 in a research note on Wednesday, January 8th. Desjardins increased their price target on Bank of Montreal from C$147.00 to C$155.00 and gave the company a “hold” rating in a research note on Wednesday. Jefferies Financial Group increased their price target on Bank of Montreal from C$126.00 to C$140.00 in a research note on Tuesday, February 18th. Finally, CIBC increased their price target on Bank of Montreal from C$150.00 to C$154.00 in a research note on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of Montreal currently has an average rating of “Moderate Buy” and a consensus target price of C$148.23.

Bank of Montreal Stock Performance

Shares of BMO opened at C$148.76 on Wednesday. The firm has a market capitalization of C$107.75 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 0.71 and a beta of 1.16. The business’s fifty day moving average price is C$142.20 and its two-hundred day moving average price is C$131.03. Bank of Montreal has a 52 week low of C$109.02 and a 52 week high of C$151.08.

Insider Buying and Selling at Bank of Montreal

In other news, Director William Darryl White sold 11,376 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of C$140.79, for a total value of C$1,601,592.91. Company 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.