Royal Bank of Canada (TSE:RY) Price Target Raised to C$247.00 at Desjardins

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective hoisted by stock analysts at Desjardins from C$240.00 to C$247.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. Desjardins’ price target would suggest a potential upside of 5.14% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their price objective for the company from C$213.00 to C$215.00 in a research note on Tuesday, November 25th. UBS Group boosted their price objective on Royal Bank of Canada from C$225.00 to C$238.00 in a report on Tuesday, November 25th. Scotiabank lifted their target price on Royal Bank of Canada from C$231.00 to C$242.00 in a research report on Friday, January 9th. National Bankshares upgraded shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$203.00 to C$231.00 in a research note on Monday, November 17th. Finally, Raymond James Financial boosted 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 research report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$231.38.

Royal Bank of Canada Trading Up 0.9%

TSE:RY traded up C$2.20 during trading hours on Monday, hitting C$234.92. The stock had a trading volume of 969,180 shares, compared to its average volume of 3,799,154. The business has a 50 day simple moving average of C$230.89 and a two-hundred day simple moving average of C$210.50. The company has a market cap of C$328.94 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a 1-year low of C$151.25 and a 1-year 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 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 for the quarter. Research analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insider Activity at Royal Bank of Canada

In other news, Director David Ian Mckay sold 91,288 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 5,873 shares of the company’s stock, valued at approximately C$1,343,448.75. This represents 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.