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

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target increased by National Bank Financial from C$181.00 to C$186.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the bank’s stock. National Bank Financial’s target price indicates a potential downside of 3.72% from the stock’s previous close.

Several other brokerages have also recently commented on BMO. Jefferies Financial Group raised their price objective on shares of Bank of Montreal from C$182.00 to C$187.00 in a research note on Wednesday, February 11th. Raymond James Financial raised Bank of Montreal from a “market perform” rating to an “outperform” rating and raised their price objective for the company from C$183.00 to C$214.00 in a research note on Friday. Scotiabank lifted their price objective on Bank of Montreal from C$187.00 to C$191.00 in a report on Friday, January 9th. Canadian Imperial Bank of Commerce boosted their target price on Bank of Montreal from C$199.00 to C$209.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Bank of America raised their price target on Bank of Montreal from C$179.00 to C$183.00 in a research report on Friday, December 5th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$192.17.

Bank of Montreal Price Performance

Shares of BMO stock traded up C$1.01 during trading hours on Tuesday, reaching C$193.18. 649,623 shares of the company’s stock were exchanged, compared to its average volume of 3,081,448. The company’s 50 day moving average is C$185.20 and its two-hundred day moving average is C$176.51. The company has a market cap of C$136.95 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 0.71 and a beta of 1.38. Bank of Montreal has a 1 year low of C$121.31 and a 1 year high of C$198.68.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings data on Thursday, December 4th. The bank reported C$3.28 earnings per share for the quarter. Bank of Montreal had a return on equity of 9.04% and a net margin of 13.57%.The firm had revenue of C$9.34 billion for the quarter. As a group, analysts predict that Bank of Montreal will post 9.6514585 EPS for the current fiscal year.

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.