Royal Bank of Canada (TSE:RY) Price Target Raised to C$311.00 at Canadian Imperial Bank of Commerce

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective lifted by research analysts at Canadian Imperial Bank of Commerce from C$279.00 to C$311.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Canadian Imperial Bank of Commerce’s target price points to a potential upside of 8.31% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group increased 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 report on Tuesday, July 7th. Desjardins raised their price target on Royal Bank of Canada from C$275.00 to C$320.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Raymond James Financial lifted their price target on shares of Royal Bank of Canada from C$270.50 to C$306.00 and gave the company a “market perform” rating in a report on Wednesday, August 12th. Scotiabank boosted their price objective on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the company a “sector outperform” rating in a research report on Tuesday, June 16th. Finally, Jefferies Financial Group upped their price objective on shares of Royal Bank of Canada from C$240.00 to C$268.00 in a report on Thursday, August 13th. One investment 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$280.69.

Royal Bank of Canada Trading Down 3.1%

Shares of RY stock traded down C$9.13 during trading hours on Wednesday, hitting C$287.13. 1,078,756 shares of the company’s stock were exchanged, compared to its average volume of 3,545,395. The company has a market capitalization of C$399.01 billion, a PE ratio of 18.67, a PEG ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a 12-month low of C$188.54 and a 12-month high of C$306.38. The business’s 50 day simple moving average is C$292.83 and its 200-day simple moving average is C$257.87.

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

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, insider Neil Mclaughlin sold 3,500 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of C$287.70, for a total value of C$1,006,950.00. Also, insider Bruce Washington Ross sold 3,657 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of C$297.19, for a total transaction of C$1,086,823.83. Following the completion of the sale, the insider owned 235 shares in the company, valued at approximately C$69,839.65. This trade represents a 93.96% decrease in their position. Insiders have sold a total of 353,206 shares of company stock valued at $100,237,874 over the last three months.

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.