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

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by equities research analysts at Desjardins from C$275.00 to C$320.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. Desjardins’ price target would suggest a potential upside of 8.11% from the stock’s current price.

Several other research analysts also recently commented on RY. Jefferies Financial Group raised their price objective on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. Canaccord Genuity Group boosted 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. Scotiabank increased their target price on Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, June 16th. Canadian Imperial Bank of Commerce raised their price target on Royal Bank of Canada from C$258.00 to C$279.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Raymond James Financial boosted their price objective on Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$266.42.

Royal Bank of Canada Stock Up 0.9%

Royal Bank of Canada stock traded up C$2.53 during midday trading on Wednesday, reaching C$296.00. The stock had a trading volume of 791,095 shares, compared to its average volume of 3,595,953. The firm has a market capitalization of C$411.34 billion, a PE ratio of 19.25, a P/E/G ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a 12 month low of C$180.06 and a 12 month high of C$306.38. The firm’s 50-day moving average price is C$286.83 and its 200 day moving average price is C$253.31.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its 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 expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Transactions at Royal Bank of Canada

In other news, insider Neil Mclaughlin sold 3,500 shares of Royal Bank of Canada stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$287.70, for a total transaction of C$1,006,950.00. Also, insider Graeme Ashley Hepworth sold 1,463 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of C$297.19, for a total value of C$434,788.97. Over the last quarter, insiders have sold 353,206 shares of company stock worth $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.