Bank of Montreal (TSE:BMO) Upgraded by Cibc World Mkts to “Strong-Buy” Rating

Bank of Montreal (TSE:BMO) (NYSE:BMO) was upgraded by analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a research note issued on Friday,Zacks.com reports.

Several other research firms have also recently weighed in on BMO. Bank of America cut shares of Bank of Montreal from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from C$134.00 to C$117.00 in a research report on Wednesday, August 28th. Jefferies Financial Group dropped their price objective on Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. CIBC raised Bank of Montreal from a “neutral” rating to an “outperform” rating and raised their target price for the stock from C$134.00 to C$150.00 in a research note on Friday. Royal Bank of Canada dropped their price target on Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 28th. Finally, TD Securities boosted their target price on shares of Bank of Montreal from C$114.00 to C$131.00 in a research report on Friday, November 15th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$131.33.

Bank of Montreal Price Performance

Shares of BMO opened at C$146.32 on Friday. The business has a 50-day moving average of C$128.38 and a 200-day moving average of C$121.59. The company has a market capitalization of C$106.73 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. Bank of Montreal has a 1 year low of C$109.02 and a 1 year high of C$147.54.

Insider Transactions at Bank of Montreal

In other news, Senior Officer David Robert Casper sold 12,819 shares of Bank of Montreal stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of C$121.85, for a total value of C$1,562,007.97. Corporate insiders own 0.03% of the company’s stock.

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.