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

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target upped by investment analysts at Royal Bank of Canada from C$161.00 to C$163.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the bank’s stock. Royal Bank of Canada’s price target suggests a potential upside of 9.92% from the company’s previous close.

BMO has been the topic of a number of other research reports. Canaccord Genuity Group increased their target price on Bank of Montreal from C$154.00 to C$165.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group cut their price target on shares of Bank of Montreal from C$150.00 to C$146.00 in a report on Friday, February 14th. National Bankshares boosted their target price on shares of Bank of Montreal from C$153.00 to C$161.00 and gave the stock an “outperform” rating in a research report on Wednesday. Cibc World Mkts upgraded shares of Bank of Montreal from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, Jefferies Financial Group lifted their price objective on Bank of Montreal from C$126.00 to C$140.00 in a report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of Montreal currently has a consensus rating of “Moderate Buy” and a consensus target price of C$148.23.

Bank of Montreal Price Performance

Shares of BMO stock traded down C$0.80 during midday trading on Wednesday, hitting C$148.29. The company had a trading volume of 997,761 shares, compared to its average volume of 3,076,588. The company’s 50 day simple moving average is C$141.79 and its 200 day simple moving average is C$130.64. Bank of Montreal has a 52-week low of C$109.02 and a 52-week high of C$151.08. The stock has a market cap of C$107.41 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 0.71 and a beta of 1.16.

Insider Buying and Selling

In related news, Director William Darryl White sold 11,376 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of C$140.79, for a total transaction of C$1,601,592.91. Corporate insiders own 0.03% of the company’s stock.

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.