Scotiabank Upgrades Bank of Montreal (TSE:BMO) to "Outperform"

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO was upgraded by Scotiabank from a "sector perform" rating to an "outperform" rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm currently has a C$160.00 price objective on the bank's stock, up from their prior price objective of C$147.00. Scotiabank's price target would indicate a potential upside of 9.35% from the company's current price.

Several other research analysts also recently issued reports on BMO. CIBC lifted their price objective on Bank of Montreal from C$120.00 to C$134.00 in a research report on Tuesday, November 26th. Jefferies Financial Group cut their price target on Bank of Montreal from C$141.00 to C$124.00 and set a "buy" rating for the company in a report on Monday, August 12th. Desjardins decreased 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 dropped their target price on Bank of Montreal from C$129.00 to C$118.00 in a research note on Wednesday, August 28th. Finally, Royal Bank of Canada decreased their price target 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. 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$131.33.

Bank of Montreal Stock Up 4.7 %

BMO stock traded up C$6.59 on Friday, reaching C$146.32. 3,542,150 shares of the company's stock were exchanged, compared to its average volume of 2,923,753. The stock has a fifty day moving average of C$128.88 and a 200-day moving average of C$121.72. The firm has a market cap of C$106.73 billion, a PE ratio of 16.84, a P/E/G ratio of 0.71 and a beta of 1.16. Bank of Montreal has a twelve month low of C$109.02 and a twelve month high of C$147.54.

Insider Activity

In other Bank of Montreal news, Senior Officer David Robert Casper sold 12,819 shares of the company'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 value of C$1,562,007.97. 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.