Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) had its target price lifted by TD from C$267.00 to C$272.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD’s price target indicates a potential upside of 4.86% from the company’s previous close.
Several other brokerages have also recently issued reports on RY. National Bank Financial raised their target price on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Canadian Imperial Bank of Commerce raised their target price on shares of Royal Bank of Canada from C$242.00 to C$258.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Scotiabank raised their target price on shares of Royal Bank of Canada from C$247.00 to C$252.00 and gave the stock a “sector outperform” rating in a report on Monday, May 4th. Canaccord Genuity Group raised their target price on shares of Royal Bank of Canada from C$270.00 to C$280.00 and gave the stock a “buy” rating in a report on Friday. Finally, Jefferies Financial Group raised their target price on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$258.50.
Read Our Latest Report on Royal Bank of Canada
Royal Bank of Canada Stock Down 0.4%
Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share (EPS) for the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. The firm had revenue of C$17.45 billion for the quarter. As a group, equities analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Bruce Washington Ross sold 3,657 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total value of C$957,512.31. Following the completion of the sale, the insider owned 235 shares of the company’s stock, valued at C$61,530.05. This trade represents a 93.96% decrease in their ownership of the stock. Also, Director David Ian Mckay sold 23,089 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total value of C$6,045,392.87. Following the transaction, the director directly owned 5,873 shares of the company’s stock, valued at C$1,537,727.59. This represents a 79.72% decrease in their position. Insiders have sold a total of 58,220 shares of company stock valued at $14,690,362 over the last three months.
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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