Bank of Montreal (TSE:BMO) Reaches New 1-Year High Following Analyst Upgrade

Bank of Montreal (TSE:BMO) (NYSE:BMO)’s stock price hit 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 changing hands. The stock had previously closed at C$196.75.

BMO has been the topic of several other research reports. Jefferies Financial Group raised their price target on Bank of Montreal from C$182.00 to C$187.00 in a report on Wednesday, February 11th. Bank of America raised their price target on Bank of Montreal from C$179.00 to C$183.00 in a research report on Friday, December 5th. Royal Bank Of Canada boosted their target price on Bank of Montreal from C$163.00 to C$178.00 in a report on Friday, December 5th. Canaccord Genuity Group boosted their price target on 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. Finally, National Bank Financial boosted their price objective on Bank of Montreal from C$181.00 to C$186.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Bank of Montreal presently has an average rating of “Hold” and a consensus target price of C$193.42.

Bank of Montreal Stock Up 1.1%

The stock’s 50-day moving average price is C$186.17 and its 200-day moving average price is C$177.06. The company has a market capitalization of C$140.95 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 0.71 and a beta of 1.38.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings results on Thursday, December 4th. The bank reported C$3.28 earnings per share (EPS) for the quarter. Bank of Montreal had a net margin of 13.57% and a return on equity of 9.04%. The company had revenue of C$9.34 billion during the quarter. On average, equities research analysts anticipate that Bank of Montreal will post 9.6514585 EPS 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.