Bank of Montreal (TSE:BMO) Price Target Raised to C$143.00 at Canaccord Genuity Group

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its target price upped by equities researchers at Canaccord Genuity Group from C$125.00 to C$143.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Canaccord Genuity Group’s target price suggests a potential upside of 9.40% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and dropped their target price for the stock from C$134.00 to C$117.00 in a research report on Wednesday, August 28th. Desjardins dropped their target price on shares of Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating on the stock in a research report on Wednesday, August 28th. Royal Bank of Canada lowered their price objective on shares of Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 28th. CIBC boosted their price objective on shares of Bank of Montreal from C$116.00 to C$120.00 in a research report on Friday, September 6th. Finally, Cormark lowered their price objective on shares of Bank of Montreal from C$129.00 to C$118.00 in a research report on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of Montreal currently has an average rating of “Hold” and an average target price of C$123.08.

Bank of Montreal Trading Up 0.3 %

Shares of TSE BMO traded up C$0.38 during midday trading on Tuesday, reaching C$130.71. The company’s stock had a trading volume of 633,016 shares, compared to its average volume of 2,912,455. The company has a 50 day moving average price of C$124.17 and a 200 day moving average price of C$120.88. Bank of Montreal has a one year low of C$107.16 and a one year high of C$133.95. The company has a market cap of C$95.34 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last released its earnings results on Tuesday, August 27th. The bank reported C$2.64 EPS for the quarter, missing analysts’ consensus estimates of C$2.72 by C($0.08). The business had revenue of C$8.19 billion during the quarter, compared to the consensus estimate of C$8.23 billion. Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. Research analysts anticipate that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Insider Transactions at Bank of Montreal

In related news, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of C$112.16, for a total transaction of C$886,977.10. Also, Senior Officer David Robert Casper sold 12,819 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total transaction of C$1,562,007.97. 0.03% of the stock is owned by corporate insiders.

About Bank of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.