National Bank Financial Increases Bank of Montreal (TSE:BMO) Price Target to C$278.00

Key Points

• National Bank Financial raised Bank of Montreal’s price target to C$278 from C$236 while maintaining a “sector perform” rating, implying 8.29% upside from the prior close.
• Analyst sentiment remains mixed: BMO has an average “Hold” rating and a consensus price target of C$239.75, despite several brokerages recently increasing their targets and issuing buy ratings.
• BMO shares closed at C$256.72, near their 12-month high of C$258.21. The bank reported quarterly EPS of C$3.67 on C$9.57 billion in revenue, while insiders sold approximately C$10.34 million worth of shares over the past quarter.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO had its price target hoisted by National Bank Financial from C$236.00 to C$278.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the bank's stock. National Bank Financial's price target indicates a potential upside of 8.29% from the stock's previous close.

A number of other analysts have also weighed in on BMO. Jefferies Financial Group upped their price objective on shares of Bank of Montreal from C$195.00 to C$196.00 in a research note on Wednesday, May 20th. Canaccord Genuity Group raised their target price on shares of 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. Royal Bank Of Canada boosted their price target on shares of 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. TD upped their price target on shares of Bank of Montreal from C$239.00 to C$263.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Desjardins increased their price objective on shares of Bank of Montreal from C$230.00 to C$260.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Bank of Montreal currently has an average rating of "Hold" and an average price target of C$239.75.

Bank of Montreal Stock Performance

TSE BMO traded up C$0.85 on Thursday, reaching C$256.72. 588,603 shares of the stock traded hands, compared to its average volume of 2,491,297. The company has a fifty day moving average price of C$247.18 and a 200-day moving average price of C$216.69. The company has a market cap of C$179.81 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 0.71 and a beta of 1.22. Bank of Montreal has a 12 month low of C$155.58 and a 12 month high of C$258.21.

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 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%. As a group, 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 Sharon Marie Haward-Laird sold 4,519 shares of Bank of Montreal stock in a transaction dated 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. Also, 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 completion of the transaction, the director owned 87,166 shares of the company's stock, valued at C$19,676,852.84. This represents a 23.76% decrease in their ownership of the stock. Insiders have sold 45,004 shares of company stock worth $10,339,904 over the last quarter. 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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