Royal Bank of Canada (TSE:RY) Price Target Raised to C$324.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target raised by Keefe, Bruyette & Woods from C$316.00 to C$324.00 in a note issued to investors on Monday,BayStreet.CA reports. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 14.78% from the company’s previous close.

Several other research firms have also recently weighed in on RY. Raymond James Financial increased their price objective on shares of Royal Bank of Canada from C$270.50 to C$306.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 12th. Jefferies Financial Group boosted their target price on shares of Royal Bank of Canada from C$240.00 to C$268.00 in a report on Thursday, August 13th. TD cut their price target on shares of Royal Bank of Canada from C$307.00 to C$306.00 and set a “buy” rating on the stock in a research report on Friday. Scotiabank increased their price target on Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a “sector outperform” rating in a report on Tuesday, June 16th. Finally, Scotia lifted their price objective on Royal Bank of Canada from C$311.00 to C$312.00 and gave the stock a “sector outperform” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$293.43.

Royal Bank of Canada Trading Down 0.7%

RY stock traded down C$1.89 during trading on Monday, hitting C$282.28. The company had a trading volume of 840,547 shares, compared to its average volume of 3,513,764. The business has a 50-day moving average of C$293.49 and a 200-day moving average of C$260.89. Royal Bank of Canada has a one year low of C$197.58 and a one year high of C$306.38. The stock has a market cap of C$390.80 billion, a PE ratio of 17.80, a PEG ratio of 3.42 and a beta of 1.05.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Thursday, August 27th. The financial services provider reported C$4.28 earnings per share for the quarter. Royal Bank of Canada had a net margin of 15.92% and a return on equity of 16.11%. The business had revenue of C$18.54 billion during the quarter. Research analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Buying and Selling

In other Royal Bank of Canada news, insider Graeme Ashley Hepworth sold 1,459 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of C$279.97, for a total value of C$408,476.23. Also, Director David Ian Mckay sold 23,091 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of C$279.97, for a total value of C$6,464,787.27. Following the sale, the director owned 5,873 shares of the company’s stock, valued at approximately C$1,644,263.81. This represents a 79.72% decrease in their position. Insiders sold a total of 352,767 shares of company stock worth $100,643,023 over the last 90 days.

Royal Bank of Canada Company Profile

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.