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 Desjardins in a research note issued to investors on Wednesday, BayStreet reports. The brokerage presently has a “hold” rating on the bank’s stock. Desjardins’ target price indicates a potential upside of 9.41% from the stock’s current price.

A number of other analysts also recently issued reports on BMO. Bank of America lifted their price objective on shares of Bank of Montreal from C$259.00 to C$262.00 in a report on Wednesday, August 26th. Scotia raised their target price on shares of Bank of Montreal from C$268.00 to C$270.00 and gave the company a “sector outperform” rating in a research report on Wednesday, August 26th. Royal Bank Of Canada lifted their price target on shares of Bank of Montreal from C$230.00 to C$241.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 26th. Canaccord Genuity Group increased their price objective on shares of Bank of Montreal from C$265.00 to C$271.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Finally, National Bank Financial set a C$278.00 price objective on Bank of Montreal and gave the stock a “sector perform” rating in a research note on Monday, August 24th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Bank of Montreal presently has an average rating of “Hold” and a consensus price target of C$257.36.

Bank of Montreal Price Performance

Shares of BMO traded up C$3.45 during midday trading on Wednesday, hitting C$237.64. The stock had a trading volume of 655,347 shares, compared to its average volume of 2,460,922. The firm has a market cap of C$165.67 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 0.71 and a beta of 1.22. Bank of Montreal has a twelve month low of C$167.97 and a twelve month high of C$259.20. The company has a 50 day simple moving average of C$249.38 and a two-hundred day simple moving average of C$221.88.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last announced its earnings results on Tuesday, August 25th. The bank reported C$2.38 earnings per share (EPS) for the quarter. The business had revenue of C$9.90 billion for the quarter. Bank of Montreal had a return on equity of 10.58% and a net margin of 11.75%. Analysts forecast that Bank of Montreal will post 9.6514585 EPS for the current fiscal year.

Insider Activity

In other news, Director Tayfun Tuzun sold 20,300 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of C$236.69, for a total transaction of C$4,804,807.00. Also, insider Mona Elizabeth Malone sold 5,000 shares of Bank of Montreal stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$244.65, for a total transaction of C$1,223,250.00. Following the sale, the insider directly owned 1,758 shares of the company’s stock, valued at C$430,094.70. The trade was a 73.99% decrease in their position. Insiders sold 41,452 shares of company stock worth $9,886,849 over the last three months. Insiders own 0.03% of the company’s stock.

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.