Bank of Montreal (TSE:BMO) Rating Increased to Outperform at Royal Bank of Canada

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

Several other equities analysts have also weighed in on BMO. Canaccord Genuity Group increased their price objective on shares of Bank of Montreal from C$143.00 to C$148.00 in a report on Friday, December 6th. CIBC raised Bank of Montreal from a “neutral” rating to an “outperform” rating and increased their price target for the company from C$134.00 to C$150.00 in a research note on Friday, December 6th. TD Securities lifted their price objective on Bank of Montreal from C$114.00 to C$131.00 in a research note on Friday, November 15th. Cibc World Mkts upgraded Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, National Bankshares boosted their target price on Bank of Montreal from C$127.00 to C$148.00 in a research report on Wednesday, November 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$135.92.

Bank of Montreal Stock Up 0.1 %

Bank of Montreal stock opened at C$141.63 on Wednesday. The business’s 50-day simple moving average is C$135.79 and its 200 day simple moving average is C$124.52. The stock has a market cap of C$103.31 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 0.71 and a beta of 1.16. Bank of Montreal has a 12-month low of C$109.02 and a 12-month high of C$147.54.

Insider Activity at Bank of Montreal

In other news, Director William Darryl White sold 11,376 shares of the company’s 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 value of C$1,601,592.91. 0.03% of the stock is owned by company insiders.

Bank of Montreal Company Profile

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.