Bank of Montreal (TSE:BMO) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price increased by investment analysts at Canaccord Genuity Group from C$242.00 to C$265.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the bank’s stock. Canaccord Genuity Group’s target price points to a potential upside of 4.77% from the stock’s previous close.

Several other research firms have also recently commented on BMO. Desjardins upped their price target on Bank of Montreal from C$212.00 to C$230.00 and gave the stock a “hold” rating in a research note on Thursday, May 28th. Barclays boosted their price objective on shares of Bank of Montreal from C$199.00 to C$203.00 and gave the company an “underweight” rating in a research note on Thursday, May 28th. Jefferies Financial Group raised their target price on shares of Bank of Montreal from C$195.00 to C$196.00 in a research note on Wednesday, May 20th. Royal Bank Of Canada lifted their target price 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. Finally, TD boosted their price target on shares of Bank of Montreal from C$234.00 to C$239.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bank of Montreal has a consensus rating of “Hold” and an average price target of C$226.46.

Bank of Montreal Trading Up 1.1%

Shares of TSE BMO traded up C$2.79 during midday trading on Tuesday, reaching C$252.94. 901,389 shares of the company were exchanged, compared to its average volume of 2,501,107. Bank of Montreal has a 1 year low of C$151.06 and a 1 year high of C$253.09. The stock has a fifty day simple moving average of C$225.85 and a 200 day simple moving average of C$202.89. The stock has a market cap of C$177.16 billion, a P/E ratio of 19.43, a PEG ratio of 0.71 and a beta of 1.22.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings data 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 during the quarter. As a group, analysts forecast that Bank of Montreal will post 9.6514585 earnings per share for the current year.

Insider Activity at Bank of Montreal

In related news, insider Sharon Marie Haward-Laird sold 4,519 shares of the business’s stock in a transaction that occurred on 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 company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of C$225.74, for a total value of C$6,132,678.58. Following the transaction, the director directly owned 87,166 shares in the company, valued at approximately C$19,676,852.84. This represents a 23.76% decrease in their position. Insiders sold a total of 45,004 shares of company stock valued at $10,339,904 over the last quarter. Corporate 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.