Scotiabank Cuts Bank of Montreal (TSE:BMO) Price Target to C$159.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price decreased by Scotiabank from C$160.00 to C$159.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the bank’s stock. Scotiabank’s price target indicates a potential upside of 11.47% from the company’s previous close.

A number of other equities analysts have also recently issued reports on BMO. CIBC raised their target price on Bank of Montreal from C$150.00 to C$154.00 in a report on Tuesday. TD Securities lifted their price objective on shares of Bank of Montreal from C$114.00 to C$131.00 in a research note on Friday, November 15th. UBS Group cut their target price on shares of Bank of Montreal from C$150.00 to C$146.00 in a report on Friday, February 14th. Cibc World Mkts raised 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 raised their price objective on Bank of Montreal from C$126.00 to C$140.00 in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Bank of Montreal presently has a consensus rating of “Moderate Buy” and a consensus target price of C$139.50.

Bank of Montreal Price Performance

Shares of BMO stock traded down C$1.07 during trading hours on Thursday, reaching C$142.64. The company had a trading volume of 499,574 shares, compared to its average volume of 3,034,498. Bank of Montreal has a 1-year low of C$109.02 and a 1-year high of C$147.54. The firm has a market cap of C$103.31 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 0.71 and a beta of 1.16. The company has a 50 day moving average of C$141.51 and a 200 day moving average of C$129.86.

Insider Activity

In related news, Director William Darryl White sold 11,376 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of C$140.79, for a total value of C$1,601,592.91. 0.03% of the stock is currently owned by corporate insiders.

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.