Royal Bank of Canada (TSE:RY) Price Target Raised to C$242.00 at Canadian Imperial Bank of Commerce

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by Canadian Imperial Bank of Commerce from C$229.00 to C$242.00 in a research note issued to investors on Friday morning,BayStreet.CA reports. They currently have a neutral rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. Desjardins raised their price objective on Royal Bank of Canada from C$240.00 to C$247.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Canaccord Genuity Group increased their target price on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the stock a “buy” rating in a research note on Thursday. Scotiabank lifted their price target on shares of Royal Bank of Canada from C$231.00 to C$242.00 in a research report on Friday, January 9th. TD Securities boosted their price target on shares of Royal Bank of Canada from C$246.00 to C$260.00 in a research note on Monday, February 9th. Finally, Barclays boosted their price target on shares of 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 issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$235.54.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at C$230.98 on Friday. The business’s 50 day moving average price is C$232.34 and its 200 day moving average price is C$211.95. The company has a market cap of C$323.42 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a one year low of C$151.25 and a one year high of C$240.34.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its earnings results 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 return on equity of 13.27% and a net margin of 28.23%.The company had revenue of C$17.21 billion during the quarter. On average, analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insider Transactions at Royal Bank of Canada

In other news, Director David Ian Mckay sold 91,288 shares of Royal Bank of Canada stock in a transaction dated 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 transaction, the director owned 5,873 shares in the company, valued at approximately C$1,343,448.75. This trade 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.