Scotiabank Issues Positive Forecast for Bank of Montreal (TSE:BMO) Stock Price

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price hoisted by stock analysts at Scotiabank from C$209.00 to C$234.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the bank’s stock. Scotiabank’s price target indicates a potential upside of 3.63% from the company’s current price.

Other analysts have also issued reports about the stock. Barclays increased their price objective on shares of Bank of Montreal from C$199.00 to C$203.00 and gave the stock an “underweight” rating in a research report on Thursday. Canadian Imperial Bank of Commerce raised their target price on shares of Bank of Montreal from C$226.00 to C$244.00 and gave the stock an “outperformer” rating in a research report on Thursday. Canaccord Genuity Group raised their target price on shares of Bank of Montreal from C$224.00 to C$230.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. TD Securities raised their target price on shares of Bank of Montreal from C$209.00 to C$219.00 in a research report on Monday, February 9th. Finally, Desjardins raised their target price on shares of Bank of Montreal from C$212.00 to C$230.00 and gave the stock a “hold” rating in a research report on Thursday. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$223.13.

Bank of Montreal Stock Up 0.8%

BMO stock traded up C$1.87 during trading on Monday, reaching C$225.80. The company’s stock had a trading volume of 1,219,276 shares, compared to its average volume of 2,659,695. Bank of Montreal has a 1 year low of C$143.35 and a 1 year high of C$227.75. The company has a market capitalization of C$159.17 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 0.71 and a beta of 1.25. The company’s fifty day moving average is C$203.77 and its 200-day moving average is C$191.73.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings results on Wednesday, May 27th. The bank reported C$3.67 earnings per share (EPS) for the quarter. Bank of Montreal had a return on equity of 11.25% and a net margin of 12.63%.The business had revenue of C$9.57 billion during the quarter. Analysts anticipate that Bank of Montreal will post 9.6514585 earnings per share for the current year.

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.