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

Key Points

• Desjardins raised Bank of Montreal’s price target from C$230.00 to C$260.00 while maintaining a “hold” rating, implying approximately 2.09% upside from the current price.
• Analyst sentiment remains mixed: six analysts rate the stock a Buy, four a Hold, and one a Sell, producing a consensus “Hold” rating and average price target of C$228.96.
• Bank of Montreal shares recently traded at C$254.67, near their 52-week high of C$258.21; the bank reported quarterly EPS of C$3.67 and revenue of C$9.57 billion.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO had its target price raised by stock analysts at Desjardins from C$230.00 to C$260.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the bank's stock. Desjardins' target price indicates a potential upside of 2.09% from the company's current price.

A number of other equities analysts also recently commented on BMO. Canadian Imperial Bank of Commerce lifted their price target on Bank of Montreal from C$226.00 to C$244.00 and gave the stock an "outperformer" rating in a research note on Thursday, May 28th. Raymond James Financial upped their price objective 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. National Bank Financial raised their price objective on 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. Royal Bank Of Canada upped their target price on Bank of Montreal from C$205.00 to C$230.00 and gave the company a "sector perform" rating in a report on Thursday, May 28th. Finally, Canaccord Genuity Group upped 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 report on Tuesday, July 7th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of C$228.96.

Bank of Montreal Price Performance

BMO traded up C$1.62 during trading on Wednesday, hitting C$254.67. The company had a trading volume of 3,345,152 shares, compared to its average volume of 2,502,745. Bank of Montreal has a 1-year low of C$154.04 and a 1-year high of C$258.21. The company has a market cap of C$179.52 billion, a PE ratio of 19.56, a P/E/G ratio of 0.71 and a beta of 1.22. The business has a 50-day moving average of C$243.79 and a 200-day moving average of C$213.93.

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 company had revenue of C$9.57 billion during the quarter. Bank of Montreal had a net margin of 12.63% and a return on equity of 11.25%. Research analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current year.

Insider Activity at Bank of Montreal

In other news, insider Mona Elizabeth Malone sold 5,000 shares of the 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 sale, the insider directly owned 1,758 shares of the company's stock, 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 firm's stock in a transaction that occurred 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 owned 87,166 shares of the company's stock, valued at approximately C$19,676,852.84. This represents a 23.76% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 45,004 shares of company stock valued at $10,339,904. Company insiders own 0.03% of the company's stock.

Bank of Montreal Company Profile

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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