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

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective boosted by equities researchers 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’ target price would indicate a potential upside of 10.68% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Raymond James Financial increased their price objective on shares of Royal Bank of Canada from C$229.00 to C$239.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. National Bankshares upgraded shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$203.00 to C$231.00 in a report on Monday, November 17th. Canadian Imperial Bank of Commerce lifted their price target on Royal Bank of Canada from C$220.00 to C$229.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Scotiabank boosted their target price on shares of Royal Bank of Canada from C$231.00 to C$242.00 in a research note on Friday, January 9th. Finally, Barclays increased their price target on Royal Bank of Canada from C$221.00 to C$227.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$231.38.

Royal Bank of Canada Price Performance

TSE:RY traded up C$2.20 during trading hours on Monday, reaching C$234.92. 969,180 shares of the company were exchanged, compared to its average volume of 3,799,154. Royal Bank of Canada has a 1-year low of C$151.25 and a 1-year high of C$240.34. The company has a market capitalization of C$328.94 billion, a P/E ratio of 16.70, a P/E/G ratio of 3.42 and a beta of 1.28. The business has a 50 day moving average of C$230.89 and a 200 day moving average of C$210.50.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$3.85 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%. As a group, equities research analysts anticipate 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 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 completion of the sale, the director owned 5,873 shares in the company, valued at approximately C$1,343,448.75. The trade was a 93.96% decrease in their ownership of the stock.

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.