Bank of Montreal (TSE:BMO) Price Target Raised to C$242.00

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target hoisted by equities research analysts at Canaccord Genuity Group from C$240.00 to C$242.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the bank’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 5.31% from the stock’s previous close.

BMO has been the topic of a number of other reports. Barclays lifted their price objective on 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. Jefferies Financial Group lifted their price objective on Bank of Montreal from C$195.00 to C$196.00 in a research note on Wednesday, May 20th. Raymond James Financial boosted their price target on 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. Desjardins boosted their price target on 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. Finally, TD boosted their price target on Bank of Montreal from C$234.00 to C$239.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Six 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 company. Based on data from MarketBeat.com, Bank of Montreal presently has an average rating of “Hold” and an average price target of C$224.13.

Bank of Montreal Stock Performance

Shares of Bank of Montreal stock traded up C$0.18 during trading on Friday, reaching C$229.80. The company’s stock had a trading volume of 877,815 shares, compared to its average volume of 2,626,682. The business’s fifty day moving average price is C$207.01 and its 200-day moving average price is C$193.20. The firm has a market cap of C$161.99 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 0.71 and a beta of 1.25. Bank of Montreal has a one year low of C$143.35 and a one year high of C$230.55.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted 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 for the quarter. Bank of Montreal had a return on equity of 11.25% and a net margin of 12.63%. Sell-side analysts anticipate that Bank of Montreal will post 9.6514585 EPS for the current year.

Insider Activity

In related news, Director William Darryl White sold 27,167 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 87,166 shares in the company, valued at C$19,676,852.84. The trade was a 23.76% decrease in their ownership of the stock. Also, insider Sharon Marie Haward-Laird sold 4,519 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of C$225.85, for a total value of C$1,020,616.15. Insiders have sold 35,487 shares of company stock worth $8,011,751 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.

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.