Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) had its price target cut by research analysts at TD from C$307.00 to C$306.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD’s price objective indicates a potential upside of 7.70% from the stock’s current price.
A number of other analysts also recently commented on RY. Desjardins boosted their target price on Royal Bank of Canada from C$275.00 to C$320.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Canadian Imperial Bank of Commerce raised their price target on Royal Bank of Canada from C$279.00 to C$311.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Jefferies Financial Group lifted their price target on Royal Bank of Canada from C$240.00 to C$268.00 in a research note on Thursday, August 13th. Canaccord Genuity Group boosted their price objective on shares of Royal Bank of Canada from C$310.00 to C$318.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Scotia increased their price objective on shares of Royal Bank of Canada from C$311.00 to C$312.00 and gave the company a “sector outperform” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$292.64.
Read Our Latest Analysis on RY
Royal Bank of Canada Trading Up 0.2%
Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last released its quarterly earnings data on Thursday, August 27th. The financial services provider reported C$4.28 earnings per share for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%.The firm had revenue of C$18.54 billion during the quarter. Equities research analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.
Insider Buying and Selling at Royal Bank of Canada
In other news, insider Bruce Washington Ross sold 45,670 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of C$293.11, for a total transaction of C$13,386,333.70. Following the transaction, the insider directly owned 235 shares in the company, valued at C$68,880.85. This represents a 99.49% decrease in their position. Also, insider Neil Mclaughlin sold 4,000 shares of Royal Bank of Canada stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of C$287.72, for a total transaction of C$1,150,880.00. In the last three months, insiders sold 352,767 shares of company stock worth $100,643,023.
About Royal Bank of Canada
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.
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