Royal Bank of Canada (TSE:RY) Stock Price Expected to Rise, National Bank Financial Analyst Says

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price hoisted by research analysts at National Bank Financial from C$271.00 to C$318.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s target price indicates a potential upside of 6.28% from the company’s previous close.

Several other research analysts have also recently issued reports on RY. Canadian Imperial Bank of Commerce increased their price objective on shares of Royal Bank of Canada from C$258.00 to C$279.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Jefferies Financial Group upped their target price on Royal Bank of Canada from C$240.00 to C$268.00 in a research report on Thursday. Barclays lifted their price target on Royal Bank of Canada from C$245.00 to C$260.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Raymond James Financial upped their price objective on 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. Finally, Desjardins raised their target price on Royal Bank of Canada from C$275.00 to C$320.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$278.23.

Royal Bank of Canada Trading Up 0.6%

RY stock traded up C$1.64 during trading on Thursday, hitting C$299.20. The company had a trading volume of 580,527 shares, compared to its average volume of 3,572,927. The business has a 50 day moving average of C$290.71 and a 200 day moving average of C$255.91. The firm has a market capitalization of C$415.79 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a fifty-two week low of C$186.51 and a fifty-two week high of C$306.38.

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 EPS for the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. The firm had revenue of C$17.45 billion for the quarter. As a group, equities analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Buying and Selling

In related news, insider Graeme Ashley Hepworth sold 1,463 shares of the company’s 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$434,788.97. Also, insider Katherine Gibson sold 462 shares of the 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$137,301.78. Following the completion of the sale, the insider directly owned 290 shares of the company’s stock, valued at approximately C$86,185.10. This represents a 61.44% decrease in their ownership of the stock. Over the last three months, insiders have sold 353,206 shares of company stock valued at $100,237,874.

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.