TD Increases Royal Bank of Canada (TSE:RY) Price Target to C$307.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target increased by TD from C$272.00 to C$307.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD’s price target points to a potential upside of 3.41% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group increased their target price on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. National Bank Financial boosted their price target on Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Canadian Imperial Bank of Commerce boosted their price target on Royal Bank of Canada from C$258.00 to C$279.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Barclays upped their price target on Royal Bank of Canada from C$245.00 to C$260.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, Canaccord Genuity Group raised their price objective on Royal Bank of Canada from C$282.00 to C$310.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$271.85.

Royal Bank of Canada Trading Up 1.3%

TSE:RY traded up C$3.76 during trading hours on Wednesday, hitting C$296.88. 624,818 shares of the company traded hands, compared to its average volume of 3,575,000. The stock has a market capitalization of C$412.56 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a twelve month low of C$186.24 and a twelve month high of C$306.38. The firm has a 50-day moving average of C$290.07 and a 200 day moving average of C$255.45.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. The firm had revenue of C$17.45 billion during the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. Equities research analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Insider Transactions at Royal Bank of Canada

In related news, Director David Ian Mckay sold 133,130 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of C$287.21, for a total value of C$38,236,267.30. Following the sale, the director owned 5,873 shares of the company’s stock, valued at C$1,686,784.33. The trade was a 95.77% decrease in their ownership of the stock. Also, insider Neil Mclaughlin sold 4,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$287.72, for a total transaction of C$1,150,880.00. In the last three months, insiders sold 353,206 shares of company stock valued at $100,237,874.

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.