Royal Bank of Canada (TSE:RY) Price Target Raised to C$275.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective upped by investment analysts at Scotiabank from C$252.00 to C$275.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price objective suggests a potential upside of 4.99% from the company’s current price.

Several other analysts also recently weighed in on RY. TD Securities cut their price objective on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Raymond James Financial lifted their price objective on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a research report on Friday. National Bank Financial lifted their price objective on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Jefferies Financial Group raised their target price on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. Finally, Canadian Imperial Bank of Commerce raised their target price on shares of Royal Bank of Canada from C$258.00 to C$279.00 and gave the company a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$260.27.

Royal Bank of Canada Trading Down 1.0%

TSE:RY traded down C$2.52 during mid-day trading on Monday, hitting C$261.92. The stock had a trading volume of 1,444,323 shares, compared to its average volume of 3,749,152. The stock has a market capitalization of C$363.99 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 3.42 and a beta of 1.14. The company has a 50 day simple moving average of C$241.24 and a 200-day simple moving average of C$232.17. Royal Bank of Canada has a 52 week low of C$172.98 and a 52 week high of C$265.10.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. The firm had revenue of C$17.45 billion for the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. As a group, equities research analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Insider Buying and Selling at Royal Bank of Canada

In related news, insider Jennifer Kristine Publicover sold 439 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total transaction of C$114,943.37. Following the completion of the sale, the insider directly owned 152 shares in the company, valued at approximately C$39,798.16. This trade represents a 74.28% decrease in their ownership of the stock. Also, insider Graeme Ashley Hepworth sold 1,463 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total transaction of C$383,057.29. Insiders sold a total of 58,220 shares of company stock valued at $14,690,362 in the last 90 days.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.