Royal Bank of Canada (TSE:RY) Stock Price Expected to Rise, National Bankshares Analyst Says

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by National Bankshares from C$169.00 to C$181.00 in a report released on Wednesday,BayStreet.CA reports. National Bankshares’ price target would suggest a potential upside of 6.48% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Jefferies Financial Group dropped their price target on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a report on Monday, August 12th. CIBC lifted their target price on Royal Bank of Canada from C$166.00 to C$167.00 in a research note on Friday, September 6th. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating and lifted their target price for the company from C$178.00 to C$180.00 in a research note on Friday, November 15th. Scotiabank lowered their target price on Royal Bank of Canada from C$157.00 to C$154.00 in a research note on Monday, August 19th. Finally, Desjardins lifted their target price on Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$168.00.

Royal Bank of Canada Stock Down 1.0 %

RY stock traded down C$1.70 during midday trading on Wednesday, reaching C$169.99. 599,040 shares of the company’s stock traded hands, compared to its average volume of 4,855,129. The company has a 50-day simple moving average of C$169.56 and a two-hundred day simple moving average of C$155.96. Royal Bank of Canada has a 1-year low of C$115.57 and a 1-year high of C$175.04. The company has a market cap of C$239.69 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share 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 13.68% and a net margin of 28.67%. The firm had revenue of C$14.63 billion during the quarter, compared to analysts’ expectations of C$14.27 billion. Equities research analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insiders Place Their Bets

In related news, Senior Officer Douglas Antony Guzman sold 17,000 shares of Royal Bank of Canada stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of C$167.95, for a total value of C$2,855,150.00. Following the sale, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,198.75. The trade was a 99.85 % decrease in their ownership of the stock. Also, Director David Ian Mckay sold 74,852 shares of Royal Bank of Canada stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. Over the last ninety days, insiders have sold 144,770 shares of company stock worth $23,959,265.

Royal Bank of Canada Company Profile

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.