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

Key Points

• National Bank Financial raised Royal Bank of Canada's price target from C$271 to C$318 and maintained an “outperform” rating, implying 6.28% upside from the prior close.
• Analyst sentiment remains positive, with MarketBeat reporting a “Moderate Buy” consensus and an average price target of C$278.23; several brokerages recently increased their targets.
• Royal Bank shares rose 0.6% to C$299.20, while insiders sold roughly 353,206 shares worth C$100.2 million over the past three months.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY had its price objective upped by equities researchers at National Bank Financial from C$271.00 to C$318.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the financial services provider's stock. National Bank Financial's price target indicates a potential upside of 6.28% from the stock's previous close.

Several other brokerages have also commented on RY. TD upped their price target on Royal Bank of Canada from C$272.00 to C$307.00 and gave the stock a "buy" rating in a research note on Wednesday. Canaccord Genuity Group boosted their target price on Royal Bank of Canada from C$282.00 to C$310.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Raymond James Financial lifted their price target on shares of Royal Bank of Canada from C$270.50 to C$306.00 and gave the company a "market perform" rating in a research report on Wednesday. Barclays increased their price objective on shares of Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. Finally, Scotiabank raised 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 research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$278.23.

Royal Bank of Canada Stock Up 0.6%

Shares of RY traded up C$1.64 on Thursday, hitting C$299.20. 580,527 shares of the stock traded hands, compared to its average volume of 3,572,927. Royal Bank of Canada has a 1 year low of C$186.51 and a 1 year high of C$306.38. The stock's 50 day moving average is C$290.71 and its two-hundred day moving average is C$255.91. The firm has a market capitalization of C$415.79 billion, a P/E ratio of 19.45, 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 released its earnings results on Thursday, May 28th. The financial services provider reported C$3.90 EPS for the quarter. The firm had revenue of C$17.45 billion during the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. Research analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Buying and Selling

In related news, insider Neil Mclaughlin sold 4,000 shares of the stock in a transaction dated 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. Also, Director David Ian Mckay sold 133,130 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of C$287.21, for a total value of C$38,236,267.30. Following the transaction, the director owned 5,873 shares of the company's stock, valued at C$1,686,784.33. This represents a 95.77% decrease in their position. Over the last three months, insiders sold 353,206 shares of company stock worth $100,237,874.

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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