Bank of Montreal (TSE:BMO) Given New C$263.00 Price Target at TD

Key Points

• TD raised Bank of Montreal’s price target to C$263 from C$239 and maintained a “buy” rating, implying approximately 2.77% upside from the reported share price.
• Analyst opinions remain mixed: six analysts rate the stock “buy,” four “hold,” and one “sell,” resulting in a consensus “hold” rating and an average target of C$233.83.
• Bank of Montreal shares rose 1.4% to C$255.90, near their 12-month high, while insiders sold roughly 45,004 shares worth C$10.34 million during the latest quarter.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO had its price target hoisted by equities researchers at TD from C$239.00 to C$263.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the bank's stock. TD's price objective would suggest a potential upside of 2.77% from the stock's current price.

A number of other brokerages have also commented on BMO. Canaccord Genuity Group boosted their target price on Bank of Montreal from C$242.00 to C$265.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Scotiabank increased their price target on Bank of Montreal from C$234.00 to C$239.00 and gave the stock a "sector outperform" rating in a report on Tuesday, June 16th. Jefferies Financial Group increased their price target on Bank of Montreal from C$195.00 to C$196.00 in a report on Wednesday, May 20th. Canadian Imperial Bank of Commerce raised their price objective 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. Finally, Desjardins boosted their price objective on Bank of Montreal from C$230.00 to C$260.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of C$233.83.

Bank of Montreal Stock Up 1.4%

TSE:BMO traded up C$3.57 during trading hours on Wednesday, reaching C$255.90. The company had a trading volume of 632,916 shares, compared to its average volume of 2,497,831. The firm has a market cap of C$179.24 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 0.71 and a beta of 1.22. The business's 50-day simple moving average is C$246.57 and its two-hundred day simple moving average is C$216.23. Bank of Montreal has a twelve month low of C$155.58 and a twelve month high of C$258.21.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO last announced its quarterly earnings data on Wednesday, May 27th. The bank reported C$3.67 earnings per share for the quarter. The firm had revenue of C$9.57 billion for the quarter. Bank of Montreal had a net margin of 12.63% and a return on equity of 11.25%. As a group, equities analysts predict that Bank of Montreal will post 9.6514585 earnings per share for the current year.

Insider Buying and Selling

In other Bank of Montreal news, insider Mona Elizabeth Malone sold 4,517 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of C$244.61, for a total transaction of C$1,104,903.37. Following the completion of the sale, the insider directly owned 1,758 shares of the company's stock, valued at approximately C$430,024.38. The trade was a 71.98% decrease in their position. Also, insider Sharon Marie Haward-Laird sold 4,519 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of C$225.85, for a total value of C$1,020,616.15. Insiders have sold 45,004 shares of company stock worth $10,339,904 in the last quarter. 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.

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