Royal Bank Of Canada Raises Bank Of Montreal (NYSE:BMO) Price Target to $168.00

Key Points

• Royal Bank Of Canada has raised the price target for Bank Of Montreal from $161.00 to $168.00, indicating a potential upside of 41.96% from the stock's last close.
• Despite the upgrade, Bank Of Montreal's stock recently fell 0.9% during trading, settling at $118.34.
• As of now, Bank Of Montreal has an average rating of "Hold" with a consensus target price of $130.75, while two analysts rated the stock as a Buy.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO had its target price raised by analysts at Royal Bank Of Canada from $161.00 to $168.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the bank's stock. Royal Bank Of Canada's price objective points to a potential upside of 41.96% from the stock's previous close.

Several other equities research analysts have also issued reports on the stock. Scotiabank started coverage on shares of Bank Of Montreal in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. National Bankshares reiterated an "outperform" rating on shares of Bank Of Montreal in a research note on Friday, August 15th. Wall Street Zen upgraded shares of Bank Of Montreal from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. CIBC reiterated a "neutral" rating on shares of Bank Of Montreal in a research note on Tuesday, May 20th. Finally, Barclays lowered shares of Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $130.75.

Bank Of Montreal Stock Down 0.9%

BMO traded down $1.05 during trading on Wednesday, hitting $118.34. The company had a trading volume of 214,079 shares, compared to its average volume of 666,129. The company has a market capitalization of $84.78 billion, a PE ratio of 15.35, a PEG ratio of 1.27 and a beta of 1.07. Bank Of Montreal has a one year low of $81.13 and a one year high of $120.30. The firm's 50-day moving average price is $112.21 and its 200 day moving average price is $103.77. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 EPS for the quarter, beating the consensus estimate of $2.12 by $0.21. The business had revenue of $6.51 billion for the quarter, compared to analysts' expectations of $8.84 billion. Bank Of Montreal had a net margin of 10.25% and a return on equity of 10.15%. The firm's revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.64 EPS. As a group, equities analysts expect that Bank Of Montreal will post 7.71 earnings per share for the current year.

Institutional Investors Weigh In On Bank Of Montreal

Several large investors have recently modified their holdings of the company. Cary Street Partners Financial LLC bought a new position in shares of Bank Of Montreal during the fourth quarter valued at about $380,000. Baskin Financial Services Inc. grew its stake in Bank Of Montreal by 134.2% in the 1st quarter. Baskin Financial Services Inc. now owns 7,428 shares of the bank's stock worth $709,000 after buying an additional 4,256 shares in the last quarter. Code Waechter LLC bought a new stake in shares of Bank Of Montreal in the 1st quarter worth approximately $282,000. Cetera Investment Advisers raised its holdings in Bank Of Montreal by 185.1% during the 4th quarter. Cetera Investment Advisers now owns 55,745 shares of the bank's stock valued at $5,410,000 after buying an additional 36,195 shares during the last quarter. Finally, JCIC Asset Management Inc. bought a new position in Bank Of Montreal in the 1st quarter worth $606,000. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Bank Of Montreal Company Profile

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.

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