Royal Bank of Canada (TSE:RY) Price Target Raised to C$310.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price raised by stock analysts at Canaccord Genuity Group from C$282.00 to C$310.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 4.28% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Desjardins boosted their price objective on Royal Bank of Canada from C$262.00 to C$275.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Scotiabank raised their target price 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 report on Tuesday, June 16th. National Bank Financial lifted their price target on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Raymond James Financial boosted their price target on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the stock a “market perform” rating in a report on Friday, May 29th. Finally, TD increased their price objective on shares of Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$262.96.

Royal Bank of Canada Trading Up 0.7%

TSE:RY traded up C$2.00 during midday trading on Tuesday, reaching C$297.29. The company had a trading volume of 1,205,761 shares, compared to its average volume of 3,564,493. The firm has a market capitalization of C$413.13 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 3.42 and a beta of 1.05. The stock’s fifty day simple moving average is C$266.16 and its 200-day simple moving average is C$243.56. Royal Bank of Canada has a 12-month low of C$175.50 and a 12-month high of C$297.29.

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 company had revenue of C$17.45 billion for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%. As a group, sell-side analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Buying and Selling at Royal Bank of Canada

In related news, insider Bruce Washington Ross sold 45,670 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of C$293.11, for a total transaction of C$13,386,333.70. Following the transaction, the insider owned 235 shares of the company’s stock, valued at C$68,880.85. This trade represents a 99.49% decrease in their ownership of the stock. Also, insider Katherine Gibson sold 462 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of C$284.86, for a total value of C$131,605.32. Following the transaction, the insider directly owned 290 shares in the company, valued at approximately C$82,609.40. This represents a 61.44% decrease in their position. In the last ninety days, insiders have sold 353,645 shares of company stock valued at $98,785,630.

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.