Royal Bank of Canada (TSE:RY) Given a C$320.00 Price Target at Desjardins

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been assigned a C$320.00 price target by investment analysts at Desjardins in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Desjardins’ price objective would suggest a potential upside of 12.10% from the stock’s previous close.

Several other research analysts have also recently commented on RY. TD decreased their target price on shares of Royal Bank of Canada from C$307.00 to C$306.00 and set a “buy” rating for the company in a report on Friday, August 28th. Canadian Imperial Bank of Commerce raised their price objective on shares of Royal Bank of Canada from C$279.00 to C$311.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 19th. Jefferies Financial Group boosted their target price on shares of Royal Bank of Canada from C$240.00 to C$268.00 in a research note on Thursday, August 13th. Scotia raised their target price 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, August 28th. Finally, Canaccord Genuity Group upped their price target on Royal Bank of Canada from C$310.00 to C$318.00 and gave the company a “buy” rating in a research report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$293.43.

Royal Bank of Canada Price Performance

Shares of RY traded up C$2.35 during trading hours on Wednesday, hitting C$285.46. 908,051 shares of the company were exchanged, compared to its average volume of 3,509,878. The company has a market capitalization of C$395.20 billion, a PE ratio of 18.00, a PEG ratio of 3.42 and a beta of 1.05. The firm has a fifty day simple moving average of C$293.31 and a 200-day simple moving average of C$261.55. Royal Bank of Canada has a one year low of C$199.17 and a one year high of C$306.38.

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

Insider Activity at Royal Bank of Canada

In related news, insider Neil Mclaughlin sold 4,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of C$287.72, for a total value of C$1,150,880.00. Also, insider Katherine Gibson sold 462 shares of the firm’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 transaction of C$129,346.14. Following the transaction, the insider directly owned 290 shares in the company, valued at approximately C$81,191.30. The trade was a 61.44% decrease in their position. Over the last three months, insiders sold 352,767 shares of company stock worth $100,643,023.

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.