Royal Bank of Canada (TSE:RY) Price Target Raised to C$220.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by Jefferies Financial Group from C$217.00 to C$220.00 in a report issued on Wednesday morning,BayStreet.CA reports.

A number of other research analysts have also recently issued reports on the stock. Raymond James Financial lifted their price objective on shares of Royal Bank of Canada from C$229.00 to C$239.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Canadian Imperial Bank of Commerce raised their price target on shares of Royal Bank of Canada from C$220.00 to C$229.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Natl Bk Canada raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. TD Securities increased their price objective on Royal Bank of Canada from C$246.00 to C$260.00 in a research note on Monday, February 9th. Finally, BMO Capital Markets lifted their target price on Royal Bank of Canada from C$229.00 to C$245.00 in a research report on Wednesday, December 17th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Buy” and a consensus target price of C$235.54.

Royal Bank of Canada Stock Up 0.2%

TSE RY opened at C$230.98 on Wednesday. Royal Bank of Canada has a 52 week low of C$151.25 and a 52 week high of C$240.34. The business has a 50 day moving average price of C$232.34 and a 200-day moving average price of C$211.95. The company has a market cap of C$323.42 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 3.42 and a beta of 1.28.

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

Insider Buying and Selling at Royal Bank of Canada

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

Royal Bank of Canada Company Profile

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.