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 traded. The stock had previously closed at C$193.48.

A number of other analysts also recently commented on the company. Desjardins upped their price objective on Bank of Montreal from C$189.00 to C$195.00 and gave the stock a “hold” rating in a report on Monday. Barclays boosted their price target on Bank of Montreal from C$177.00 to C$181.00 and gave the company an “equal weight” rating in a research report on Friday, December 5th. Royal Bank Of Canada raised their price objective on Bank of Montreal from C$163.00 to C$178.00 in a report on Friday, December 5th. Scotiabank boosted their target price on Bank of Montreal from C$187.00 to C$191.00 in a report on Friday, January 9th. Finally, Raymond James Financial increased their target price on shares of Bank of Montreal from C$182.00 to C$183.00 in a research report on Monday, December 8th. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Bank of Montreal presently 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 capitalization of C$139.15 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.71 and a beta of 1.38. The business’s 50-day moving average price is C$183.06 and its 200 day moving average price is C$174.87.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its quarterly earnings results on Thursday, December 4th. The bank reported C$3.28 earnings per share (EPS) for the quarter. The firm had revenue of C$9.34 billion for the quarter. Bank of Montreal had a net margin of 13.57% and a return on equity of 9.04%. As a group, sell-side analysts expect 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.