Bank of Montreal (TSE:BMO) Hits New 12-Month High Following Analyst Upgrade

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price reached a new 52-week high during trading on Friday after Barclays raised their price target on the stock from C$181.00 to C$196.00. The stock traded as high as C$198.73 and last traded at C$198.45, with a volume of 481605 shares traded. The stock had previously closed at C$196.75.

BMO has been the subject of several other reports. Raymond James Financial raised Bank of Montreal from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from C$183.00 to C$214.00 in a research note on Friday, February 13th. Scotiabank increased their price target on Bank of Montreal from C$187.00 to C$191.00 in a research report on Friday, January 9th. Bank of America raised their price objective on Bank of Montreal from C$179.00 to C$183.00 in a research note on Friday, December 5th. Royal Bank Of Canada upped their target price on shares of Bank of Montreal from C$163.00 to C$178.00 in a research note on Friday, December 5th. Finally, Canaccord Genuity Group increased their target price on shares of Bank of Montreal from C$201.00 to C$218.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$193.42.

Bank of Montreal Stock Up 1.5%

The firm has a market cap of C$141.61 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 0.71 and a beta of 1.38. The firm’s 50-day simple moving average is C$186.54 and its 200 day simple moving average is C$177.38.

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. Bank of Montreal had a net margin of 13.57% and a return on equity of 9.04%. The firm had revenue of C$9.34 billion during the quarter. As a group, analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current 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.