Royal Bank of Canada (TSE:RY) Given New C$271.00 Price Target at National Bank Financial

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price lifted by research analysts at National Bank Financial from C$257.00 to C$271.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price target indicates a potential upside of 7.54% from the stock’s current price.

RY has been the subject of several other reports. Jefferies Financial Group lifted their price target on Royal Bank of Canada from C$217.00 to C$220.00 in a research report on Wednesday, February 11th. Scotiabank lifted their price target on Royal Bank of Canada from C$247.00 to C$252.00 and gave the company a “sector outperform” rating in a research report on Monday, May 4th. TD Securities reduced their price target on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Barclays lifted their price target on Royal Bank of Canada from C$244.00 to C$245.00 in a research report on Friday, February 27th. Finally, TD boosted their target price on Royal Bank of Canada from C$259.00 to C$267.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus price target of C$251.12.

Royal Bank of Canada Stock Performance

TSE:RY traded down C$0.42 during trading hours on Friday, reaching C$252.01. The stock had a trading volume of 958,918 shares, compared to its average volume of 3,752,694. The stock has a 50 day simple moving average of C$233.43 and a 200 day simple moving average of C$228.03. Royal Bank of Canada has a 12-month low of C$171.29 and a 12-month high of C$252.43. The stock has a market cap of C$350.42 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 3.42 and a beta of 1.14.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. The business had revenue of C$17.96 billion during the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%. On average, equities analysts expect that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Insider Transactions at Royal Bank of Canada

In other news, insider Graeme Ashley Hepworth sold 1,463 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total value of C$355,245.66. Also, insider Katherine Gibson sold 462 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total value of C$112,182.84. Following the completion of the transaction, the insider owned 290 shares of the company’s stock, valued at C$70,417.80. The trade was a 61.44% decrease in their ownership of the stock. In the last three months, insiders sold 29,110 shares of company stock worth $7,068,490.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.