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

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target raised by research analysts at TD Securities from C$114.00 to C$131.00 in a note issued to investors on Friday,BayStreet.CA reports. TD Securities’ price target would indicate a potential downside of 0.48% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. CIBC increased their target price on shares of Bank of Montreal from C$116.00 to C$120.00 in a research report on Friday, September 6th. Cormark reduced their target price on shares of Bank of Montreal from C$129.00 to C$118.00 in a research report on Wednesday, August 28th. Desjardins reduced their target price on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating for the company in a research report on Wednesday, August 28th. Canaccord Genuity Group cut their price objective on shares of Bank of Montreal from C$135.00 to C$130.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. Finally, Royal Bank of Canada cut their price objective on shares of Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating for the company in a report on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$122.08.

Bank of Montreal Stock Up 0.3 %

BMO traded up C$0.33 during trading on Friday, reaching C$131.63. 512,466 shares of the stock traded hands, compared to its average volume of 2,898,193. The stock has a market capitalization of C$96.01 billion, a PE ratio of 15.15, a P/E/G ratio of 0.71 and a beta of 1.16. The stock’s 50-day moving average is C$123.43 and its 200 day moving average is C$120.92. Bank of Montreal has a 12 month low of C$107.16 and a 12 month high of C$133.95.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings data on Tuesday, August 27th. The bank reported C$2.64 earnings per share for the quarter, missing the consensus estimate of C$2.72 by C($0.08). Bank of Montreal had a net margin of 21.20% and a return on equity of 8.49%. The company had revenue of C$8.19 billion for the quarter, compared to analyst estimates of C$8.23 billion. As a group, equities research analysts anticipate that Bank of Montreal will post 9.6514585 EPS for the current year.

Insider Activity

In related news, Senior Officer David Robert Casper sold 12,819 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total transaction of C$1,562,007.97. Also, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total transaction of C$886,977.10. 0.03% of the stock is owned by corporate insiders.

About Bank of Montreal

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.