Bank of Montreal (TSE:BMO) Given a C$260.00 Price Target at Desjardins

Bank of Montreal (TSE:BMO) (NYSE:BMO) received a C$260.00 price objective from stock analysts at Desjardins in a research report issued on Wednesday, BayStreet reports. The firm currently has a “hold” rating on the bank’s stock. Desjardins’ price objective suggests a potential upside of 9.41% from the stock’s current price.

Several other analysts also recently weighed in on BMO. Raymond James Financial increased their target price on Bank of Montreal from C$233.50 to C$268.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Bank of America upped their price target on Bank of Montreal from C$259.00 to C$262.00 in a report on Wednesday, August 26th. Barclays increased their price objective on Bank of Montreal from C$203.00 to C$240.00 in a research report on Friday, August 21st. Scotiabank raised their price objective on shares of Bank of Montreal from C$234.00 to C$239.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, June 16th. Finally, Canaccord Genuity Group boosted their target price on shares of Bank of Montreal from C$265.00 to C$271.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$257.36.

Bank of Montreal Stock Performance

Shares of TSE BMO traded up C$3.45 during mid-day trading on Wednesday, reaching C$237.64. The company had a trading volume of 655,347 shares, compared to its average volume of 2,460,922. Bank of Montreal has a twelve month low of C$167.97 and a twelve month high of C$259.20. The stock has a market capitalization of C$165.67 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 0.71 and a beta of 1.22. The stock’s 50 day moving average is C$249.38 and its 200-day moving average is C$221.88.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its earnings results on Tuesday, August 25th. The bank reported C$2.38 earnings per share (EPS) for the quarter. Bank of Montreal had a net margin of 11.75% and a return on equity of 10.58%. The firm had revenue of C$9.90 billion during the quarter. On average, sell-side analysts anticipate that Bank of Montreal will post 9.6514585 EPS for the current year.

Insider Buying and Selling

In other news, Director Tayfun Tuzun sold 20,300 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of C$236.69, for a total value of C$4,804,807.00. Also, insider Mona Elizabeth Malone sold 4,517 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$244.61, for a total transaction of C$1,104,903.37. Following the completion of the transaction, the insider directly owned 1,758 shares of the company’s stock, valued at approximately C$430,024.38. This represents a 71.98% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 41,452 shares of company stock worth $9,886,849. 0.03% of the stock is owned by corporate 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.