Royal Bank of Canada (TSE:RY) Price Target Raised to C$241.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price increased by National Bank Financial from C$235.00 to C$241.00 in a research note published on Tuesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other analysts also recently commented on RY. Canaccord Genuity Group increased their target price on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Raymond James Financial lifted their target price on shares of Royal Bank of Canada from C$239.00 to C$248.00 and gave the stock an “outperform” rating in a research report on Tuesday. Scotiabank boosted their target price on Royal Bank of Canada from C$231.00 to C$242.00 in a research note on Friday, January 9th. Jefferies Financial Group upped their target price on Royal Bank of Canada from C$217.00 to C$220.00 in a report on Wednesday, February 11th. Finally, Desjardins lifted their price target on Royal Bank of Canada from C$240.00 to C$247.00 and gave the stock a “buy” rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus target price of C$238.31.

Royal Bank of Canada Stock Down 0.0%

RY stock opened at C$233.96 on Tuesday. The firm has a market capitalization of C$327.59 billion, a PE ratio of 16.63, a P/E/G ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a twelve month low of C$151.25 and a twelve month high of C$240.34. The stock’s 50 day moving average is C$232.74 and its 200-day moving average is C$213.46.

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

Insider Buying and Selling at Royal Bank of Canada

In other news, Director David Ian Mckay sold 91,288 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of C$228.75, for a total value of C$20,882,130.00. Following the sale, the director owned 5,873 shares of the company’s stock, valued at C$1,343,448.75. The trade was a 93.96% decrease in their ownership of the stock.

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.