Scotiabank Lowers Bank of Montreal (TSE:BMO) Price Target to C$135.00

Bank of Montreal (TSE:BMOGet Free Report) (NYSE:BMO) had its target price reduced by investment analysts at Scotiabank from C$143.00 to C$135.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the bank’s stock. Scotiabank’s price objective points to a potential upside of 21.17% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Barclays decreased their target price on Bank of Montreal from C$131.00 to C$126.00 and set an “overweight” rating on the stock in a report on Wednesday, August 30th. Canaccord Genuity Group increased their price target on Bank of Montreal from C$121.50 to C$130.50 and gave the stock a “buy” rating in a research report on Monday, July 24th. Desjardins decreased their target price on Bank of Montreal from C$133.00 to C$130.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. CSFB set a C$128.00 price objective on shares of Bank of Montreal and gave the company an “outperform” rating in a report on Tuesday, September 12th. Finally, Cormark reduced their price target on Bank of Montreal from C$132.00 to C$130.00 and set a “buy” rating on the stock in a report on Wednesday, August 30th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$131.73.

Check Out Our Latest Research Report on Bank of Montreal

Bank of Montreal Stock Performance

Shares of TSE BMO traded down C$0.27 during trading hours on Tuesday, hitting C$111.41. The company’s stock had a trading volume of 496,601 shares, compared to its average volume of 2,223,336. Bank of Montreal has a 12 month low of C$102.67 and a 12 month high of C$137.64. The stock has a market cap of C$79.84 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 1.49 and a beta of 1.16. The business has a 50-day simple moving average of C$110.96 and a 200-day simple moving average of C$115.37.

Bank of Montreal (TSE:BMOGet Free Report) (NYSE:BMO) last released its quarterly earnings results on Tuesday, August 29th. The bank reported C$2.78 earnings per share for the quarter, missing the consensus estimate of C$3.06 by C($0.28). Bank of Montreal had a net margin of 23.03% and a return on equity of 10.26%. The company had revenue of C$7.93 billion during the quarter. On average, equities research analysts forecast that Bank of Montreal will post 12.9651023 EPS for the current year.

About Bank of Montreal

(Get Free Report)

Bank of Montreal provides diversified financial services primarily in North America. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, specialized banking programs, treasury and payment solutions, and risk management products for small business and commercial banking customers.

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Analyst Recommendations for Bank of Montreal (TSE:BMO)

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