Bank of Montreal (TSE:BMO) Reaches New 52-Week High After Analyst Upgrade

Shares of Bank of Montreal (TSE:BMO) (NYSE:BMO) hit a new 52-week high during trading on Monday after TD Securities raised their price target on the stock from C$209.00 to C$219.00. The stock traded as high as C$195.15 and last traded at C$193.68, with a volume of 1819088 shares. The stock had previously closed at C$193.48.

Other equities research analysts have also recently issued research reports about the company. Raymond James Financial upped their price target on Bank of Montreal from C$182.00 to C$183.00 in a research note on Monday, December 8th. National Bankshares lowered Bank of Montreal from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from C$173.00 to C$181.00 in a report on Monday, November 17th. Bank of America increased their target price on shares of Bank of Montreal from C$179.00 to C$183.00 in a report on Friday, December 5th. Royal Bank Of Canada upped their target price on Bank of Montreal from C$163.00 to C$178.00 in a report on Friday, December 5th. Finally, Jefferies Financial Group upped their price target on shares of Bank of Montreal from C$181.00 to C$182.00 in a report on Friday, December 5th. Three analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$186.50.

Bank of Montreal Price Performance

The firm has a market cap of C$139.15 billion, a PE ratio of 17.16, a P/E/G ratio of 0.71 and a beta of 1.38. The stock has a 50-day moving average price of C$183.06 and a 200 day moving average price of C$174.87.

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

Bank of Montreal Company Profile

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.