Bank of Montreal (TSE:BMO) Given New C$265.00 Price Target at Canaccord Genuity Group

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price raised by investment analysts at Canaccord Genuity Group from C$242.00 to C$265.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the bank’s stock. Canaccord Genuity Group’s price target points to a potential upside of 4.77% from the stock’s previous close.

A number of other brokerages have also recently issued reports on BMO. Jefferies Financial Group raised their target price on Bank of Montreal from C$195.00 to C$196.00 in a report on Wednesday, May 20th. Canadian Imperial Bank of Commerce upped their price target on Bank of Montreal from C$226.00 to C$244.00 and gave the company an “outperformer” rating in a research note on Thursday, May 28th. Raymond James Financial increased their price target on shares of Bank of Montreal from C$227.00 to C$233.50 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Barclays lifted their price objective on shares of Bank of Montreal from C$199.00 to C$203.00 and gave the stock an “underweight” rating in a research note on Thursday, May 28th. Finally, Desjardins upped their target price on shares of Bank of Montreal from C$212.00 to C$230.00 and gave the company a “hold” rating in a research note on Thursday, May 28th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Bank of Montreal has an average rating of “Hold” and a consensus target price of C$226.46.

Bank of Montreal Stock Performance

BMO traded up C$2.79 during trading on Tuesday, reaching C$252.94. 901,389 shares of the company’s stock were exchanged, compared to its average volume of 2,501,107. The company’s fifty day moving average price is C$225.85 and its 200-day moving average price is C$202.89. The firm has a market capitalization of C$177.16 billion, a PE ratio of 19.43, a P/E/G ratio of 0.71 and a beta of 1.22. Bank of Montreal has a fifty-two week low of C$151.06 and a fifty-two week high of C$253.09.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its quarterly earnings data on Wednesday, May 27th. The bank reported C$3.67 EPS for the quarter. The business had revenue of C$9.57 billion during the quarter. Bank of Montreal had a return on equity of 11.25% and a net margin of 12.63%. Research analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Insider Buying and Selling at Bank of Montreal

In other news, insider Mona Elizabeth Malone sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of C$244.65, for a total value of C$1,223,250.00. Following the completion of the transaction, the insider owned 1,758 shares in the company, valued at C$430,094.70. This represents a 73.99% decrease in their ownership of the stock. Also, Director William Darryl White sold 27,167 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$225.74, for a total transaction of C$6,132,678.58. Following the sale, the director directly owned 87,166 shares of the company’s stock, valued at C$19,676,852.84. This represents a 23.76% decrease in their position. Over the last quarter, insiders have sold 45,004 shares of company stock valued at $10,339,904. 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.