Bank of Montreal (TSE:BMO) Rating Increased to Outperform at Royal Bank of Canada

Bank of Montreal (TSE:BMO) (NYSE:BMO) was upgraded by equities researchers at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a C$161.00 target price on the bank’s stock, up from their prior target price of C$133.00. Royal Bank of Canada’s price objective suggests a potential upside of 13.30% from the company’s previous close.

BMO has been the topic of several other research reports. Cibc World Mkts raised Bank of Montreal from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Canaccord Genuity Group increased their price target on shares of Bank of Montreal from C$143.00 to C$148.00 in a research note on Friday, December 6th. CIBC upgraded shares of Bank of Montreal from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from C$134.00 to C$150.00 in a research note on Friday, December 6th. Scotiabank upgraded Bank of Montreal from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$147.00 to C$160.00 in a report on Friday, December 6th. Finally, National Bankshares upped their price objective on Bank of Montreal from C$127.00 to C$148.00 in a research note on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$135.92.

Bank of Montreal Trading Up 2.1 %

Shares of TSE BMO traded up C$2.98 during mid-day trading on Wednesday, hitting C$142.10. The company had a trading volume of 1,175,854 shares, compared to its average volume of 1,565,044. Bank of Montreal has a one year low of C$109.02 and a one year high of C$147.54. The company has a market capitalization of C$103.65 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The firm has a 50-day simple moving average of C$135.27 and a two-hundred day simple moving average of C$124.21.

Insider Buying and Selling at Bank of Montreal

In other Bank of Montreal news, Director William Darryl White sold 11,376 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of C$140.79, for a total transaction of C$1,601,592.91. Insiders own 0.03% of the company’s stock.

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.