Bank of Montreal (TSE:BMO) Price Target Raised to C$161.00

Key Points

• Bank of Montreal's price target was raised to C$161.00 by National Bankshares, indicating a potential upside of 2.65% from its previous close.
• Multiple brokerages have adjusted their price targets for BMO, with Jefferies Financial Group increasing theirs to C$164.00 and Canaccord Genuity setting a target of C$166.00.
• Despite the positive adjustments, Bank of Montreal's stock is currently down 0.5%, trading at C$156.85.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO had its price objective lifted by investment analysts at National Bankshares from C$160.00 to C$161.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the bank's stock. National Bankshares' target price would suggest a potential upside of 2.65% from the stock's previous close.

Several other brokerages also recently commented on BMO. Jefferies Financial Group raised their price target on shares of Bank of Montreal from C$150.00 to C$164.00 in a report on Wednesday. CIBC raised their price target on shares of Bank of Montreal from C$150.00 to C$156.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. Royal Bank Of Canada cut their price target on shares of Bank of Montreal from C$163.00 to C$161.00 and set an "outperform" rating for the company in a report on Monday, June 9th. Scotiabank raised shares of Bank of Montreal to a "hold" rating in a report on Thursday, May 15th. Finally, Canaccord Genuity Group set a C$166.00 target price on shares of Bank of Montreal and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of C$150.23.

Bank of Montreal Stock Down 0.5%

BMO traded down C$0.75 on Friday, hitting C$156.85. The company's stock had a trading volume of 543,027 shares, compared to its average volume of 2,970,649. The company's 50 day simple moving average is C$152.27 and its 200-day simple moving average is C$143.66. The firm has a market cap of C$113.61 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. Bank of Montreal has a 12 month low of C$109.22 and a 12 month high of C$158.00.

Insider Buying and Selling

In related news, Senior Officer Erminia Johannson sold 4,676 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of C$147.57, for a total transaction of C$690,023.29. 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.

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