Canaccord Genuity Group Forecasts Strong Price Appreciation for Bank of Montreal (TSE:BMO) Stock

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target upped by investment analysts at Canaccord Genuity Group from C$125.00 to C$143.00 in a research note issued on Tuesday,BayStreet.CA reports. Canaccord Genuity Group’s price target indicates a potential upside of 8.76% from the stock’s previous close.

A number of other equities analysts have also commented on BMO. Desjardins cut their price objective on Bank of Montreal from C$125.00 to C$120.00 and set a “hold” rating on the stock in a research note on Wednesday, August 28th. CIBC increased their target price on Bank of Montreal from C$116.00 to C$120.00 in a report on Friday, September 6th. Royal Bank of Canada dropped their price objective on Bank of Montreal from C$118.00 to C$106.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 28th. National Bankshares dropped their price target on Bank of Montreal from C$131.00 to C$127.00 and set an “outperform” rating on the stock in a report on Wednesday, August 28th. Finally, Bank of America downgraded shares of Bank of Montreal from a “buy” rating to a “neutral” rating and cut their price target for the stock from C$134.00 to C$117.00 in a report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$124.69.

Bank of Montreal Trading Up 0.1 %

BMO opened at C$131.48 on Tuesday. The stock has a market cap of C$95.90 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.71 and a beta of 1.16. The stock’s fifty day simple moving average is C$124.95 and its 200 day simple moving average is C$121.00. Bank of Montreal has a 1-year low of C$107.16 and a 1-year high of C$133.95.

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

Insider Buying and Selling

In related news, 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. Also, Senior Officer Steven Lloyd Tennyson sold 7,908 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of C$112.16, for a total transaction of C$886,977.10. 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.