Jefferies Financial Group Issues Positive Forecast for Bank of Montreal (TSE:BMO) Stock Price

Key Points

• Jefferies raised Bank of Montreal’s price target from C$213 to C$225 but maintained a “hold” rating, implying 12.36% downside from the current price.
• Analyst sentiment remains mixed, with an overall “Hold” consensus and an average target price of C$239.75; six analysts rate the stock a Buy, four Hold, and one Sell.
• BMO shares rose 0.3% to C$256.72, near their 52-week high of C$258.21. The bank most recently 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 increased by stock analysts at Jefferies Financial Group from C$213.00 to C$225.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the bank's stock. Jefferies Financial Group's price objective suggests a potential downside of 12.36% from the stock's current price.

Several other equities research analysts have also weighed in on the company. Desjardins raised their price objective on Bank of Montreal from C$230.00 to C$260.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Royal Bank Of Canada boosted their target price on Bank of Montreal from C$205.00 to C$230.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 28th. National Bank Financial upped their target price on Bank of Montreal from C$236.00 to C$278.00 and gave the company a "sector perform" rating in a report on Thursday. Barclays upped their target price on Bank of Montreal from C$199.00 to C$203.00 and gave the company an "underweight" rating in a report on Thursday, May 28th. Finally, 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. Six 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, the stock has an average rating of "Hold" and an average target price of C$239.75.

Bank of Montreal Trading Up 0.3%

BMO stock traded up C$0.85 on Thursday, hitting C$256.72. 588,603 shares of the company's stock traded hands, compared to its average volume of 2,491,297. Bank of Montreal has a 1-year low of C$155.58 and a 1-year high of C$258.21. The stock has a market cap of C$179.81 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 0.71 and a beta of 1.22. The stock has a fifty day moving average of C$247.18 and a 200-day moving average of C$216.69.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO last posted its quarterly earnings results on Wednesday, May 27th. The bank reported C$3.67 earnings per share (EPS) 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%. On average, equities research analysts anticipate that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Insider Buying and Selling at Bank of Montreal

In other Bank of Montreal 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 owned 1,758 shares in the company, valued at C$430,094.70. This represents a 73.99% decrease in their position. Also, insider Sharon Marie Haward-Laird sold 4,519 shares of Bank of Montreal 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. In the last quarter, insiders have sold 45,004 shares of company stock worth $10,339,904. 0.03% of the stock is currently owned by company insiders.

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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