Canaccord Genuity Group Issues Positive Forecast for Bank of Montreal (TSE:BMO) Stock Price

Bank of Montreal (TSE:BMO) (NYSE:BMO) had its price target hoisted by Canaccord Genuity Group from C$240.00 to C$242.00 in a research note released on Friday,BayStreet.CA reports. The brokerage currently has a buy rating on the bank’s stock.

BMO has been the topic of several other reports. Jefferies Financial Group increased their target price on shares of Bank of Montreal from C$195.00 to C$196.00 in a research note on Wednesday, May 20th. Desjardins increased their target price on shares of Bank of Montreal from C$212.00 to C$230.00 and gave the stock a “hold” rating in a research note on Thursday, May 28th. Barclays increased their target price on shares of Bank of Montreal from C$199.00 to C$203.00 and gave the stock an “underweight” rating in a research note on Thursday, May 28th. Canadian Imperial Bank of Commerce increased their target price on shares of 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. Finally, Raymond James Financial upped their price target on shares of Bank of Montreal from C$227.00 to C$233.50 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Bank of Montreal has an average rating of “Hold” and a consensus target price of C$224.13.

Bank of Montreal Stock Performance

TSE:BMO opened at C$229.23 on Friday. Bank of Montreal has a one year low of C$143.35 and a one year high of C$230.55. The firm has a market cap of C$160.56 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 0.71 and a beta of 1.26. The firm’s fifty day moving average is C$207.81 and its two-hundred day moving average is C$193.45.

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

Bank of Montreal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 26th were given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Wednesday, April 29th. Bank of Montreal’s dividend payout ratio is 50.69%.

Insider Transactions at Bank of Montreal

In other Bank of Montreal news, insider Sharon Marie Haward-Laird sold 4,519 shares of the stock in a transaction dated Monday, June 1st. The shares were 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 dated Monday, June 1st. The shares were sold at an average price of C$225.74, for a total transaction of C$6,132,678.58. Following the completion of the sale, the director owned 87,166 shares of the company’s stock, valued at approximately C$19,676,852.84. The trade was a 23.76% decrease in their position. In the last quarter, insiders sold 35,487 shares of company stock valued at $8,011,751. 0.03% of the stock is owned by insiders.

Bank of Montreal Company Profile

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.