Royal Bank of Canada (TSE:RY) PT Set at C$318.00 by National Bank Financial

Royal Bank of Canada (TSE:RY) (NYSE:RY) received a C$318.00 price objective from equities research analysts at National Bank Financial in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price target points to a potential upside of 12.69% from the stock’s previous close.

Several other analysts have also recently issued reports on RY. Scotiabank increased their target price on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, June 16th. Desjardins upped their price objective on Royal Bank of Canada from C$275.00 to C$320.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Raymond James Financial boosted 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 report on Wednesday, August 12th. Canaccord Genuity Group increased their target price on shares of Royal Bank of Canada from C$282.00 to C$310.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Jefferies Financial Group boosted their price target on shares of Royal Bank of Canada from C$240.00 to C$268.00 in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus target price of C$286.07.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock traded down C$0.18 during trading hours on Monday, hitting C$282.19. 863,421 shares of the company’s stock traded hands, compared to its average volume of 3,542,038. The stock has a market capitalization of C$392.15 billion, a price-to-earnings ratio of 18.35, 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 company has a fifty day simple moving average of C$293.23 and a 200-day simple moving average of C$259.06.

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 net margin of 18.40% and a return on equity of 15.95%. The company had revenue of C$17.45 billion for the quarter. On average, analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insider Activity

In other news, insider Neil Mclaughlin sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were 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 Royal Bank of Canada stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of C$297.19, for a total transaction of C$137,301.78. Following the completion of the transaction, the insider directly owned 290 shares in the company, valued at approximately C$86,185.10. The trade was a 61.44% decrease in their ownership of the stock. In the last 90 days, insiders have sold 324,096 shares of company stock valued at $92,616,003.

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.