Royal Bank of Canada (TSE:RY) Given New C$271.00 Price Target at National Bank Financial

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective upped by equities researchers at National Bank Financial from C$257.00 to C$271.00 in a report released on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price target suggests a potential upside of 7.54% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group raised their target price on 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. Scotiabank raised their target price on Royal Bank of Canada from C$247.00 to C$252.00 and gave the company a “sector outperform” rating in a report on Monday, May 4th. Raymond James Financial lowered Royal Bank of Canada from a “moderate buy” rating to a “hold” rating and raised their target price for the company from C$248.00 to C$265.50 in a report on Tuesday. Jefferies Financial Group raised their target price on Royal Bank of Canada from C$217.00 to C$220.00 in a report on Wednesday, February 11th. Finally, TD Securities dropped their target price on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a report on Friday, February 27th. One equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$251.12.

Royal Bank of Canada Stock Down 0.2%

TSE:RY traded down C$0.42 on Friday, hitting C$252.01. The stock had a trading volume of 958,918 shares, compared to its average volume of 3,752,694. The business’s fifty day moving average is C$233.43 and its 200 day moving average is C$228.03. The company has a market cap of C$350.42 billion, a PE ratio of 17.31, a P/E/G ratio of 3.42 and a beta of 1.14. Royal Bank of Canada has a 52 week low of C$171.29 and a 52 week high of C$252.43.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. The business had revenue of C$17.96 billion for the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%. Equities analysts predict 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 related news, Director David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total transaction of C$5,606,470.98. Following the sale, the director directly owned 5,873 shares in the company, valued at approximately C$1,426,081.86. This trade represents a 79.72% decrease in their ownership of the stock. Also, insider Katherine Gibson sold 462 shares of Royal Bank of Canada stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total value of C$112,182.84. Following the sale, the insider owned 290 shares in the company, valued at C$70,417.80. This trade represents a 61.44% decrease in their ownership of the stock. Insiders sold a total of 29,110 shares of company stock valued at $7,068,490 in the last ninety 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.