Raymond James Financial Raises Royal Bank of Canada (TSE:RY) Price Target to C$270.50

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price increased by stock analysts at Raymond James Financial from C$265.50 to C$270.50 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Raymond James Financial’s price objective would suggest a potential upside of 4.28% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Desjardins boosted their price target on Royal Bank of Canada from C$250.00 to C$262.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. TD boosted their price target on Royal Bank of Canada from C$267.00 to C$272.00 and gave the stock a “buy” rating in a report on Friday. TD Securities decreased their price objective 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. Barclays upped their price objective on Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Canadian Imperial Bank of Commerce upped their price objective on Royal Bank of Canada from C$242.00 to C$258.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$258.50.

Royal Bank of Canada Stock Down 0.4%

TSE RY traded down C$1.14 during trading hours on Friday, reaching C$259.40. The company’s stock had a trading volume of 1,116,860 shares, compared to its average volume of 3,728,900. The firm’s 50-day moving average price is C$240.41 and its 200-day moving average price is C$231.76. Royal Bank of Canada has a 1 year low of C$171.29 and a 1 year high of C$265.10. The company has a market capitalization of C$360.70 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 3.42 and a beta of 1.14.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 EPS for the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%.The company had revenue of C$17.45 billion for the quarter. Equities research analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insider Activity at Royal Bank of Canada

In other Royal Bank of Canada news, insider Bruce Washington Ross sold 3,657 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total value of C$957,512.31. Following the transaction, the insider owned 235 shares of the company’s stock, valued at C$61,530.05. This represents a 93.96% decrease in their position. Also, Director David Ian Mckay sold 23,089 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total value of C$6,045,392.87. Following the completion of the transaction, the director directly owned 5,873 shares in the company, valued at C$1,537,727.59. This trade represents a 79.72% decrease in their position. Insiders have sold a total of 58,220 shares of company stock worth $14,690,362 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.