Bank of Montreal (TSE:BMO) Price Target Raised to C$179.00 at Scotiabank

Key Points

• Scotiabank has raised its target price for Bank of Montreal from C$169.00 to C$179.00, indicating a potential upside of 1.26% from the previous close.
• Multiple brokerages have updated their ratings for BMO, with Bank of America increasing its target to C$176.00 and CIBC upgrading the stock to "outperform" with a target of C$180.00.
• Insider trading activity included significant sales, with executives unloading shares valued at nearly C$6 million over the last three months.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO had its target price upped by equities researchers at Scotiabank from C$169.00 to C$179.00 in a report released on Friday,BayStreet.CA reports. Scotiabank's price objective points to a potential upside of 1.26% from the company's previous close.

Several other brokerages also recently issued reports on BMO. Bank of America lifted their target price on Bank of Montreal from C$159.00 to C$176.00 in a research note on Wednesday, August 27th. Barclays raised their price target on Bank of Montreal from C$150.00 to C$157.00 in a report on Wednesday, August 27th. National Bankshares set a C$173.00 price target on Bank of Montreal and gave the company an "outperform" rating in a report on Monday, September 22nd. CIBC upgraded Bank of Montreal from a "neutral" rating to an "outperform" rating and raised their price target for the company from C$173.00 to C$180.00 in a report on Friday, September 5th. Finally, Cibc World Mkts upgraded Bank of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$167.83.

Bank of Montreal Trading Down 0.4%

BMO traded down C$0.66 on Friday, hitting C$176.77. 789,656 shares of the company's stock traded hands, compared to its average volume of 2,795,968. The company's 50 day simple moving average is C$169.04 and its 200-day simple moving average is C$151.94. The firm has a market cap of C$128.62 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 0.71 and a beta of 1.35. Bank of Montreal has a one year low of C$121.31 and a one year high of C$182.90.

Insider Buying and Selling at Bank of Montreal

In other news, insider Steven Lloyd Tennyson sold 9,072 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of C$163.89, for a total value of C$1,486,782.86. Following the completion of the transaction, the insider directly owned 21,866 shares of the company's stock, valued at approximately C$3,583,553.14. The trade was a 29.32% decrease in their position. Also, insider Alan Tannenbaum sold 9,824 shares of the business's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of C$175.12, for a total value of C$1,720,408.35. Over the last three months, insiders sold 35,883 shares of company stock valued at $5,989,740. Corporate insiders own 0.03% of the company's stock.

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.

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