Royal Bank of Canada (TSE:RY) Price Target Raised to C$181.00 at National Bankshares

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target raised by National Bankshares from C$169.00 to C$181.00 in a note issued to investors on Wednesday,BayStreet.CA reports. National Bankshares’ price target would suggest a potential upside of 6.48% from the company’s current price.

Several other equities analysts have also weighed in on RY. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and lifted their price objective for the company from C$178.00 to C$180.00 in a research note on Friday, November 15th. Cormark boosted their price target on Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday, August 29th. Bank of America boosted their price target on Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. Barclays boosted their price target on Royal Bank of Canada from C$145.00 to C$150.00 in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group cut their price objective on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$168.00.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock traded down C$1.70 during midday trading on Wednesday, reaching C$169.99. The company’s stock had a trading volume of 599,040 shares, compared to its average volume of 4,855,129. Royal Bank of Canada has a fifty-two week low of C$115.57 and a fifty-two week high of C$175.04. The stock’s 50 day simple moving average is C$169.56 and its 200 day simple moving average is C$155.96. The firm has a market capitalization of C$239.69 billion, a PE ratio of 15.06, a P/E/G ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. The business had revenue of C$14.63 billion during the quarter, compared to analysts’ expectations of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. Equities analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Insiders Place Their Bets

In related news, Senior Officer Douglas Antony Guzman sold 15,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of C$165.00, for a total transaction of C$2,475,000.00. Following the completion of the sale, the insider now owns 25 shares in the company, valued at C$4,125. This represents a 99.83 % decrease in their position. Also, Director David Ian Mckay sold 74,852 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. Insiders have sold a total of 144,770 shares of company stock valued at $23,959,265 in the last three months.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.