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

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price increased by analysts at Scotiabank from C$187.00 to C$191.00 in a report released on Friday,BayStreet.CA reports. Scotiabank’s target price would suggest a potential upside of 3.46% from the stock’s current price.

BMO has been the subject of a number of other reports. Barclays raised their price objective on Bank of Montreal from C$177.00 to C$181.00 and gave the stock an “equal weight” rating in a research report on Friday, December 5th. Natl Bk Canada lowered shares of Bank of Montreal from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 1st. Jefferies Financial Group increased their target price on shares of Bank of Montreal from C$181.00 to C$182.00 in a research report on Friday, December 5th. Desjardins boosted their price target on shares of Bank of Montreal from C$180.00 to C$189.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Finally, Bank of America increased their price objective on Bank of Montreal from C$179.00 to C$183.00 in a report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$183.08.

Bank of Montreal Stock Performance

Shares of TSE:BMO traded down C$0.24 during mid-day trading on Friday, hitting C$184.62. The stock had a trading volume of 796,408 shares, compared to its average volume of 2,426,642. The company’s 50 day moving average is C$176.85 and its 200-day moving average is C$169.41. Bank of Montreal has a 12-month low of C$121.31 and a 12-month high of C$185.99. The company has a market cap of C$130.88 billion, a PE ratio of 16.14, a P/E/G ratio of 0.71 and a beta of 1.39.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its earnings results on Thursday, December 4th. The bank reported C$3.28 earnings per share (EPS) for the quarter. The company had revenue of C$9.34 billion for the quarter. Bank of Montreal had a net margin of 13.57% and a return on equity of 9.04%. On average, equities research analysts predict that Bank of Montreal will post 9.6514585 EPS for the current fiscal year.

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.