Royal Bank of Canada (TSE:RY) PT Raised to C$169.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price hoisted by equities research analysts at National Bankshares from C$160.00 to C$169.00 in a research note issued on Thursday, BayStreet.CA reports. National Bankshares’ price objective points to a potential upside of 3.69% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Argus raised shares of Royal Bank of Canada to a “strong-buy” rating in a research note on Thursday, June 6th. Scotiabank cut their price objective on Royal Bank of Canada from C$157.00 to C$154.00 in a research note on Monday, August 19th. Barclays upped their target price on Royal Bank of Canada from C$145.00 to C$150.00 in a report on Tuesday, August 20th. BMO Capital Markets lowered shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, May 31st. Finally, CIBC upped their price objective on shares of Royal Bank of Canada from C$150.00 to C$155.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$161.50.

Royal Bank of Canada Price Performance

Shares of TSE:RY opened at C$162.98 on Thursday. Royal Bank of Canada has a one year low of C$107.92 and a one year high of C$163.06. The company has a market cap of C$231.43 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 10.64 and a beta of 0.85. The firm has a 50 day simple moving average of C$151.00 and a 200 day simple moving average of C$142.40.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.38% and a net margin of 28.37%. The company had revenue of C$14.63 billion during the quarter, compared to analysts’ expectations of C$14.27 billion. As a group, analysts expect that Royal Bank of Canada will post 12.8601286 EPS for the current year.

Insider Activity at Royal Bank of Canada

In other news, Senior Officer Neil Mclaughlin sold 14,778 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of C$146.26, for a total value of C$2,161,474.61. In other Royal Bank of Canada news, Senior Officer Neil Mclaughlin sold 14,778 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total value of C$2,161,474.61. Also, Senior Officer Bruce Washington Ross sold 12,170 shares of Royal Bank of Canada stock in a transaction on Monday, June 17th. The stock was sold at an average price of C$141.46, for a total value of C$1,721,604.71. Following the sale, the insider now owns 235 shares in the company, valued at C$33,243.81. In the last quarter, insiders have sold 101,302 shares of company stock valued at $14,592,565.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.