BMO Capital Markets Increases Bank of Montreal (NYSE:BMO) Price Target to C$157.00

Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) had its price objective boosted by stock analysts at BMO Capital Markets from C$155.00 to C$157.00 in a research report issued on Thursday, The Fly reports.

Other analysts have also recently issued research reports about the company. National Bank Financial cut Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 7th. Barclays boosted their price target on Bank of Montreal from C$167.00 to C$171.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 2nd. Credit Suisse Group started coverage on Bank of Montreal in a research report on Friday, May 20th. They issued an “outperform” rating for the company. Desjardins boosted their price objective on Bank of Montreal from C$157.00 to C$161.00 in a research report on Thursday, March 3rd. Finally, Stifel Europe boosted their price objective on Bank of Montreal from C$170.00 to C$172.00 and gave the stock a “buy” rating in a research report on Wednesday, March 2nd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Bank of Montreal currently has a consensus rating of “Buy” and an average price target of $156.86.

NYSE BMO traded up $1.91 on Thursday, reaching $105.57. The stock had a trading volume of 84,832 shares, compared to its average volume of 871,612. The business has a 50 day moving average price of $111.34 and a 200 day moving average price of $111.92. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Bank of Montreal has a 1 year low of $95.37 and a 1 year high of $122.77. The company has a market capitalization of $70.91 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 1.42 and a beta of 1.19.

Bank of Montreal (NYSE:BMO – Get Rating) (TSE:BMO) last announced its quarterly earnings results on Wednesday, May 25th. The bank reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.63. Bank of Montreal had a return on equity of 17.71% and a net margin of 26.09%. The company had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $6.69 billion. During the same quarter in the previous year, the firm earned $2.49 earnings per share. The business’s quarterly revenue was up 53.3% compared to the same quarter last year. On average, analysts anticipate that Bank of Montreal will post 10.44 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in shares of Bank of Montreal in the 1st quarter valued at $263,000. The Manufacturers Life Insurance Company lifted its stake in shares of Bank of Montreal by 23.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,344,020 shares of the bank’s stock valued at $276,277,000 after purchasing an additional 441,460 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Bank of Montreal by 260.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,989 shares of the bank’s stock valued at $1,414,000 after purchasing an additional 8,663 shares during the period. Virtu Financial LLC acquired a new stake in Bank of Montreal during the 1st quarter worth $473,000. Finally, Advisors Asset Management Inc. raised its stake in Bank of Montreal by 12.8% during the 1st quarter. Advisors Asset Management Inc. now owns 13,904 shares of the bank’s stock worth $1,640,000 after buying an additional 1,578 shares during the period. 39.47% of the stock is currently owned by institutional investors.

About Bank of Montreal (Get Rating)

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

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