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

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

BMO has been the subject of a number of other research reports. National Bankshares dropped their target price on shares of Bank of Montreal from C$131.00 to C$127.00 and set an “outperform” rating for the company in a research report on Wednesday, August 28th. CIBC upped 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 decreased their price target on shares of Bank of Montreal from C$129.00 to C$118.00 in a research note on Wednesday, August 28th. Jefferies Financial Group decreased their price target on shares of 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. Finally, Royal Bank of Canada decreased their price target on shares of 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. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Bank of Montreal has an average rating of “Hold” and an average target price of C$122.08.

Bank of Montreal Stock Performance

Shares of BMO traded up C$0.33 during mid-day trading on Friday, reaching C$131.63. The stock had a trading volume of 512,466 shares, compared to its average volume of 2,898,193. The firm has a market cap of C$96.01 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.71 and a beta of 1.16. Bank of Montreal has a 12 month low of C$107.16 and a 12 month high of C$133.95. The business has a fifty day moving average of C$123.43 and a 200 day moving average of C$120.92.

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

Insider Activity at Bank of Montreal

In other Bank of Montreal news, Senior Officer David Robert Casper sold 12,819 shares of the firm’s stock in a transaction dated 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 firm’s stock in a transaction dated 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 currently owned by company insiders.

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.