Bank of Montreal (NYSE:BMO) reported better-than-expected third-quarter financial results on Tuesday.

Bank of Montreal reported quarterly earnings of $2.35 per share which beat the analyst consensus estimate of $2.12 per share. The company reported $6.542 billion in sales this quarter.

“BMO delivered another quarter of strong earnings growth, with solid revenue performance and good expense management. Disciplined execution against each of our ROE rebuild strategies is driving tangible results through consistent positive operating leverage, improving credit performance and strengthening profitability, especially across our U.S. businesses,” said Darryl White, Chief Executive Officer, BMO Financial Group.

Bank of Montreal shares fell 0.2% to $119.16 on Wednesday.

These analysts made changes to their price targets on Bank of Montreal following earnings announcement.

• RBC Capital analyst Darko Mihelic maintained Bank of Montreal with an Outperform rating and raised the price target from $161 to $168.
• Scotiabank analyst Mike Rizvanovic maintained the stock with a Sector Perform and raised the price target from C$148 to C$16.

Considering buying BMO stock? Here’s what analysts think:

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