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

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price objective 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 price objective points to a potential upside of 9.40% from the stock’s previous close.

A number of other equities research analysts have also commented on BMO. TD Securities increased their price objective on shares of Bank of Montreal from C$114.00 to C$131.00 in a report on Friday. Jefferies Financial Group cut their target price on shares of Bank of Montreal from C$141.00 to C$124.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Desjardins cut 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. CIBC upped their target price on shares of Bank of Montreal from C$116.00 to C$120.00 in a research report on Friday, September 6th. Finally, National Bankshares cut their target price on shares of Bank of Montreal from C$131.00 to C$127.00 and set an “outperform” rating on the stock 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$123.08.

Bank of Montreal Price Performance

Shares of BMO traded up C$0.38 during trading hours on Tuesday, hitting C$130.71. The stock had a trading volume of 633,016 shares, compared to its average volume of 2,912,455. The company’s fifty day moving average is C$124.17 and its two-hundred day moving average is C$120.88. Bank of Montreal has a 52 week low of C$107.16 and a 52 week high of C$133.95. The stock has a market capitalization of C$95.34 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 0.71 and a beta of 1.16.

Bank of Montreal (TSE:BMO) (NYSE:BMO) last issued its quarterly earnings data 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). Bank of Montreal had a return on equity of 8.49% and a net margin of 21.20%. The company had revenue of C$8.19 billion for the quarter, compared to the consensus estimate of C$8.23 billion. Equities analysts predict that Bank of Montreal will post 9.6514585 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer David Robert Casper sold 12,819 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of C$121.85, for a total value of C$1,562,007.97. Also, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the firm’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. Corporate insiders own 0.03% of the company’s stock.

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.