Bank of Montreal (TSE:BMO) Price Target Raised to C$260.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price hoisted by Desjardins from C$230.00 to C$260.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the bank’s stock. Desjardins’ target price points to a potential upside of 2.09% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Raymond James Financial lifted their target price on shares of Bank of Montreal from C$227.00 to C$233.50 and gave the company an “outperform” rating in a research note on Thursday, May 28th. National Bank Financial increased their price target on shares of Bank of Montreal from C$223.00 to C$236.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 28th. Canaccord Genuity Group increased their price target on shares of Bank of Montreal from C$242.00 to C$265.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Canadian Imperial Bank of Commerce raised their price target on shares of Bank of Montreal from C$226.00 to C$244.00 and gave the company an “outperformer” rating in a report on Thursday, May 28th. Finally, Scotiabank lifted their price objective on shares of Bank of Montreal from C$234.00 to C$239.00 and gave the company a “sector outperform” rating in a research note on Tuesday, June 16th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$228.96.

Bank of Montreal Stock Up 0.6%

Shares of BMO traded up C$1.62 during midday trading on Wednesday, reaching C$254.67. 3,345,152 shares of the stock were exchanged, compared to its average volume of 2,502,745. The company has a market cap of C$179.52 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 0.71 and a beta of 1.22. Bank of Montreal has a 12-month low of C$154.04 and a 12-month high of C$258.21. The firm has a 50 day simple moving average of C$243.79 and a 200-day simple moving average of C$213.93.

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

Insider Activity at Bank of Montreal

In other Bank of Montreal news, insider Sharon Marie Haward-Laird sold 4,519 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of C$225.85, for a total transaction of C$1,020,616.15. Also, Director William Darryl White sold 27,167 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of C$225.74, for a total transaction of C$6,132,678.58. Following the sale, the director owned 87,166 shares of the company’s stock, valued at C$19,676,852.84. This trade represents a 23.76% decrease in their ownership of the stock. In the last three months, insiders have sold 45,004 shares of company stock worth $10,339,904. 0.03% of the stock is owned by 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.