Royal Bank of Canada (TSE:RY) Given a C$318.00 Price Target at National Bank Financial

Key Points

• National Bank Financial set a C$318 price target for Royal Bank of Canada and maintained an “outperform” rating, implying 12.69% upside from the reported C$282.19 price.
• Analyst sentiment is broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average target of C$286.07; several firms recently raised their price targets.
• Royal Bank of Canada reported quarterly EPS of C$3.90 on C$17.45 billion in revenue, while insiders sold approximately C$92.6 million worth of shares during the latest quarter.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY has been given a C$318.00 price objective by analysts at National Bank Financial in a research note issued on Monday,BayStreet.CA reports. The firm presently has an "outperform" rating on the financial services provider's stock. National Bank Financial's target price would indicate a potential upside of 12.69% from the stock's current price.

RY has been the subject of a number of other reports. Desjardins increased 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 note on Wednesday, August 5th. Keefe, Bruyette & Woods set a C$316.00 target price on shares of Royal Bank of Canada and gave the stock a "market perform" rating in a research note on Friday. Barclays increased their price objective on Royal Bank of Canada from C$260.00 to C$300.00 in a report on Friday. Jefferies Financial Group raised their price target on Royal Bank of Canada from C$240.00 to C$268.00 in a research note on Thursday, August 13th. Finally, Scotiabank upped their target price on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the company a "sector outperform" rating in a report on Tuesday, June 16th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$286.07.

Royal Bank of Canada Stock Performance

RY traded down C$0.18 during midday trading on Monday, hitting C$282.19. The company had a trading volume of 863,421 shares, compared to its average volume of 3,542,038. The firm's 50-day simple moving average is C$293.23 and its 200-day simple moving average is C$259.06. Royal Bank of Canada has a twelve month low of C$188.54 and a twelve month high of C$306.38. The company has a market capitalization of C$392.15 billion, a PE ratio of 18.35, a P/E/G ratio of 3.42 and a beta of 1.05.

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 18.40% and a return on equity of 15.95%. The company had revenue of C$17.45 billion for the quarter. As a group, sell-side analysts anticipate 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 Royal Bank of Canada news, Director David Ian Mckay sold 23,089 shares of the company's stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of C$297.19, for a total value of C$6,861,819.91. Following the sale, the director owned 5,873 shares in the company, valued at approximately C$1,745,396.87. The trade was a 79.72% decrease in their position. Also, insider Graeme Ashley Hepworth sold 1,463 shares of the company's stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of C$297.19, for a total value of C$434,788.97. Insiders sold 324,096 shares of company stock worth $92,616,003 over the last quarter.

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.

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