Royal Bank of Canada (TSE:RY) Given a C$320.00 Price Target by Desjardins Analysts

Key Points

• Desjardins set a C$320 price target for Royal Bank of Canada and maintained a “buy” rating, implying 12.1% upside from the prior close.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average target price of C$293.43; several firms recently raised their targets to between C$312 and C$321.
• Royal Bank shares rose 0.8% to C$285.46 in mid-day trading. The bank reported quarterly EPS of C$4.28 and revenue of C$18.54 billion, while insiders have sold more than C$100 million of stock over the past 90 days.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY has been assigned a C$320.00 price objective by analysts at Desjardins in a research note issued to investors on Wednesday, BayStreet reports. The firm presently has a "buy" rating on the financial services provider's stock. Desjardins' price target indicates a potential upside of 12.10% from the stock's previous close.

A number of other research analysts have also issued reports on RY. Barclays boosted their target price on shares of Royal Bank of Canada from C$260.00 to C$300.00 in a research note on Friday, August 21st. TD cut their price target on Royal Bank of Canada from C$307.00 to C$306.00 and set a "buy" rating on the stock in a report on Friday, August 28th. Scotia boosted their price objective on Royal Bank of Canada from C$311.00 to C$312.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 28th. Canaccord Genuity Group increased their price objective on Royal Bank of Canada from C$310.00 to C$318.00 and gave the stock a "buy" rating in a report on Friday, August 28th. Finally, National Bank Financial raised their target price on Royal Bank of Canada from C$318.00 to C$321.00 and gave the company an "outperform" rating in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of "Moderate Buy" and an average target price of C$293.43.

Royal Bank of Canada Stock Up 0.8%

RY stock traded up C$2.35 during mid-day trading on Wednesday, reaching C$285.46. The company had a trading volume of 908,051 shares, compared to its average volume of 3,509,878. The stock has a market capitalization of C$395.20 billion, a P/E ratio of 18.00, a P/E/G ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a one year low of C$199.17 and a one year high of C$306.38. The stock's 50-day simple moving average is C$293.31 and its two-hundred day simple moving average is C$261.55.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last released its quarterly earnings results on Thursday, August 27th. The financial services provider reported C$4.28 EPS for the quarter. Royal Bank of Canada had a net margin of 15.92% and a return on equity of 16.11%. The business had revenue of C$18.54 billion during the quarter. On average, research analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insider Buying and Selling at Royal Bank of Canada

In other news, insider Neil Mclaughlin sold 4,000 shares of Royal Bank of Canada stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$287.72, for a total transaction of C$1,150,880.00. Also, insider Bruce Washington Ross sold 45,670 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of C$293.11, for a total value of C$13,386,333.70. Following the completion of the sale, the insider directly owned 235 shares in the company, valued at C$68,880.85. This represents a 99.49% decrease in their position. In the last ninety days, insiders sold 352,767 shares of company stock valued at $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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