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

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price boosted by analysts at CIBC from C$120.00 to C$134.00 in a note issued to investors on Tuesday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 0.59% from the stock’s previous close.

BMO has been the topic of several other reports. Scotiabank upped their price objective on shares of Bank of Montreal from C$112.00 to C$147.00 in a research note on Monday. 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. Canaccord Genuity Group lifted their price objective on Bank of Montreal from C$125.00 to C$143.00 in a research report on Tuesday, November 19th. Desjardins reduced 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 research note on Wednesday, August 28th. Finally, TD Securities raised their target price on Bank of Montreal from C$114.00 to C$131.00 in a research note on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$128.50.

Bank of Montreal Trading Up 0.3 %

TSE BMO opened at C$133.21 on Tuesday. Bank of Montreal has a 1-year low of C$107.16 and a 1-year high of C$134.16. The company has a market capitalization of C$97.16 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 0.71 and a beta of 1.16. The stock’s 50 day moving average is C$126.86 and its two-hundred day moving average is C$121.33.

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

Insider Buying and Selling at Bank of Montreal

In related news, Senior Officer David Robert Casper sold 12,819 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total value of C$1,562,007.97. Also, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the company’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. Insiders own 0.03% of the company’s stock.

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.