Bank of Montreal (TSE:BMO) Given New C$239.00 Price Target at Scotiabank

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target raised by Scotiabank from C$234.00 to C$239.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the bank’s stock. Scotiabank’s price objective indicates a potential upside of 0.13% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Canadian Imperial Bank of Commerce upped their price target on Bank of Montreal from C$226.00 to C$244.00 and gave the stock an “outperformer” rating in a research note on Thursday, May 28th. Canaccord Genuity Group upped their price target on Bank of Montreal from C$240.00 to C$242.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. National Bank Financial upped their price target on Bank of Montreal from C$223.00 to C$236.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 28th. Raymond James Financial upped their price target on Bank of Montreal from C$227.00 to C$233.50 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Finally, Royal Bank Of Canada upped their price target on 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. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$224.54.

Bank of Montreal Trading Up 1.4%

BMO stock traded up C$3.19 during trading on Tuesday, reaching C$238.68. 718,463 shares of the stock were exchanged, compared to its average volume of 2,555,328. The firm’s 50 day moving average is C$213.30 and its 200 day moving average is C$196.17. Bank of Montreal has a twelve month low of C$143.35 and a twelve month high of C$239.07. The firm has a market cap of C$168.25 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 0.71 and a beta of 1.26.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last posted its quarterly earnings results on Wednesday, May 27th. The bank reported C$3.67 earnings per share for the quarter. Bank of Montreal had a return on equity of 11.25% and a net margin of 12.63%.The business had revenue of C$9.57 billion for the quarter. As a group, analysts predict that Bank of Montreal will post 9.6514585 earnings per share for the current fiscal year.

Insider Activity at Bank of Montreal

In other news, insider Sharon Marie Haward-Laird sold 4,519 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was 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 stock in a transaction that occurred 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 completion of the sale, the director directly owned 87,166 shares of the company’s stock, valued at approximately C$19,676,852.84. This trade represents a 23.76% decrease in their ownership of the stock. Over the last three months, insiders sold 35,487 shares of company stock valued at $8,011,751. Company 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.