National Bank Financial Reiterates C$278.00 Price Target for Bank of Montreal (TSE:BMO)

Key Points

• National Bank Financial reaffirmed its C$278 price target and “sector perform” rating for Bank of Montreal, implying 16.44% upside from the previous close.
• Analyst sentiment remains mixed, with six Buy, five Hold, and one Sell rating; MarketBeat reports a consensus “Hold” rating and C$249 price target.
• Bank of Montreal shares fell 0.6% to C$238.74, while recent insider sales totaled approximately C$10.34 million over 90 days.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO has been assigned a C$278.00 price target by National Bank Financial in a report released on Monday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the bank's stock. National Bank Financial's target price would suggest a potential upside of 16.44% from the stock's previous close.

Several other research analysts have also recently commented on the stock. Raymond James Financial increased their target price on shares of Bank of Montreal from C$233.50 to C$268.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Barclays lifted their price target on shares of Bank of Montreal from C$203.00 to C$240.00 in a research note on Friday. Royal Bank Of Canada increased their price objective on shares of Bank of Montreal from C$205.00 to C$230.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 28th. Desjardins raised 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. Finally, TD lifted their target price on Bank of Montreal from C$239.00 to C$263.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Bank of Montreal presently has a consensus rating of "Hold" and a consensus price target of C$249.00.

Bank of Montreal Stock Down 0.6%

Shares of TSE:BMO traded down C$1.51 during mid-day trading on Monday, reaching C$238.74. 844,225 shares of the stock were exchanged, compared to its average volume of 2,462,377. The stock's 50 day simple moving average is C$249.80 and its 200-day simple moving average is C$219.71. Bank of Montreal has a one year low of C$157.45 and a one year high of C$259.20. The company has a market cap of C$167.22 billion, a P/E ratio of 18.34, a P/E/G ratio of 0.71 and a beta of 1.22.

Bank of Montreal (TSE:BMO - Get Free Report) NYSE: BMO last released its earnings results on Wednesday, May 27th. The bank reported C$3.67 EPS for the quarter. Bank of Montreal had a return on equity of 11.25% and a net margin of 12.63%.The firm had revenue of C$9.57 billion for the quarter. Analysts anticipate that Bank of Montreal will post 9.6514585 EPS for the current fiscal year.

Insider Activity

In other news, insider Sharon Marie Haward-Laird sold 4,519 shares of the company's stock in a transaction dated Monday, June 1st. The shares were 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 firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of C$225.74, for a total transaction of C$6,132,678.58. Following the completion of the sale, the director owned 87,166 shares of the company's stock, valued at C$19,676,852.84. This trade represents a 23.76% decrease in their ownership of the stock. In the last ninety days, insiders have sold 45,004 shares of company stock valued at $10,339,904. 0.03% of the stock is owned by company 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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