Royal Bank of Canada (TSE:RY) Price Target Raised to C$260.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by equities researchers at TD Securities from C$246.00 to C$260.00 in a research note issued to investors on Monday,BayStreet.CA reports. TD Securities’ price target points to a potential upside of 10.68% from the company’s current price.

Several other research analysts have also recently weighed in on RY. Raymond James Financial lifted their price target on Royal Bank of Canada from C$229.00 to C$239.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Scotiabank upped their price objective on Royal Bank of Canada from C$231.00 to C$242.00 in a research report on Friday, January 9th. Natl Bk Canada upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. National Bankshares upgraded shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$203.00 to C$231.00 in a research report on Monday, November 17th. Finally, BMO Capital Markets boosted their target price on shares of Royal Bank of Canada from C$229.00 to C$245.00 in a report on Wednesday, December 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$231.38.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock traded up C$2.20 during trading hours on Monday, hitting C$234.92. The company had a trading volume of 969,180 shares, compared to its average volume of 3,799,154. The company has a 50-day moving average price of C$230.89 and a two-hundred day moving average price of C$210.50. The firm has a market cap of C$328.94 billion, a P/E ratio of 16.70, a P/E/G ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a 1 year low of C$151.25 and a 1 year high of C$240.34.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share for the quarter. The firm had revenue of C$17.21 billion during the quarter. Royal Bank of Canada had a return on equity of 13.27% and a net margin of 28.23%. As a group, equities research analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Activity

In related news, Director David Ian Mckay sold 91,288 shares of Royal Bank of Canada stock in a transaction dated Friday, December 12th. The shares were sold at an average price of C$228.75, for a total transaction of C$20,882,130.00. Following the completion of the transaction, the director directly owned 5,873 shares of the company’s stock, valued at C$1,343,448.75. This trade represents a 93.96% decrease in their position.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S. and other countries.