TD Securities Increases Royal Bank of Canada (TSE:RY) Price Target to C$260.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lifted by research analysts at TD Securities from C$246.00 to C$260.00 in a research note issued to investors on Monday,BayStreet.CA reports. TD Securities’ price target suggests a potential upside of 9.33% from the stock’s previous close.

RY has been the topic of a number of other research reports. Barclays increased their price objective on Royal Bank of Canada from C$221.00 to C$227.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Desjardins boosted their price objective on shares of Royal Bank of Canada from C$230.00 to C$240.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Raymond James Financial raised their target price on shares of Royal Bank of Canada from C$229.00 to C$239.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. UBS Group boosted their target price on shares of Royal Bank of Canada from C$225.00 to C$238.00 in a research report on Tuesday, November 25th. Finally, Natl Bk Canada raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$231.38.

Royal Bank of Canada Stock Up 0.6%

Shares of RY opened at C$237.82 on Monday. The firm has a market cap of C$333.00 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. The company’s fifty day moving average is C$231.77 and its 200-day moving average is C$211.29. Royal Bank of Canada has a 12 month low of C$151.25 and a 12 month high of C$240.34.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share (EPS) for the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. The firm had revenue of C$17.21 billion during the quarter. As a group, research analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Royal Bank of Canada news, Director David Ian Mckay sold 91,288 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of C$228.75, for a total value of C$20,882,130.00. Following the sale, the director directly owned 5,873 shares in the company, valued at C$1,343,448.75. This trade represents a 93.96% decrease in their position.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S. and other countries.