CIBC Upgrades Bank of Montreal (TSE:BMO) to “Outperform”

Bank of Montreal (TSE:BMO) (NYSE:BMO) was upgraded by investment analysts at CIBC from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a C$180.00 price objective on the bank’s stock, up from their prior price objective of C$173.00. CIBC’s price target points to a potential upside of 3.02% from the stock’s previous close.

A number of other equities research analysts have also issued reports on BMO. Barclays upped their target price on shares of Bank of Montreal from C$150.00 to C$157.00 in a report on Wednesday, August 27th. Jefferies Financial Group upped their target price on shares of Bank of Montreal from C$164.00 to C$173.00 in a report on Wednesday, August 27th. National Bankshares upped their target price on shares of Bank of Montreal from C$161.00 to C$173.00 in a report on Wednesday, August 27th. TD Securities upped their target price on shares of Bank of Montreal from C$164.00 to C$170.00 and gave the stock a “hold” rating in a report on Wednesday, August 27th. Finally, Scotiabank upped their target price on shares of Bank of Montreal from C$148.00 to C$169.00 in a report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$167.42.

Bank of Montreal Stock Up 0.9%

Bank of Montreal stock opened at C$174.72 on Friday. Bank of Montreal has a 52-week low of C$110.94 and a 52-week high of C$175.61. The firm has a market capitalization of C$125.15 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 0.71 and a beta of 1.25. The company has a fifty day simple moving average of C$157.60 and a 200-day simple moving average of C$145.93.

Insider Buying and Selling

In other Bank of Montreal news, Senior Officer Erminia Johannson sold 4,676 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of C$147.57, for a total value of C$690,023.29. 0.03% of the stock is owned by insiders.

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.