Royal Bank of Canada (TSE:RY) Price Target Raised to C$180.00 at National Bankshares

Key Points

• The price target for the Royal Bank of Canada has been raised from C$177.00 to C$180.00 by National Bankshares, indicating a potential downside of 4.57% from the stock's previous close.
• Multiple analysts have increased their price objectives for Royal Bank of Canada, with Jefferies Financial Group setting it at C$207.00 and Desjardins at C$193.00, contributing to a consensus rating of "Buy" and a target of C$189.62.
• Insider trading activity has seen significant sell-offs, with insiders selling a total of 63,039 shares valued at over $11 million in the past 90 days.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY had its price objective boosted by equities researchers at National Bankshares from C$177.00 to C$180.00 in a research report issued on Friday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the financial services provider's stock. National Bankshares' price objective would indicate a potential downside of 4.57% from the stock's previous close.

RY has been the subject of a number of other reports. Jefferies Financial Group increased their price objective on Royal Bank of Canada from C$198.00 to C$207.00 in a report on Wednesday. CIBC increased their price objective on Royal Bank of Canada from C$182.00 to C$183.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Scotiabank upgraded Royal Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. Desjardins increased their price objective on Royal Bank of Canada from C$185.00 to C$193.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Barclays increased their price objective on Royal Bank of Canada from C$182.00 to C$190.00 and gave the company an "overweight" rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of C$189.62.

Royal Bank of Canada Price Performance

TSE RY traded up C$0.01 on Friday, reaching C$188.62. The company had a trading volume of 695,941 shares, compared to its average volume of 4,454,625. The firm has a market cap of C$266.90 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a fifty-two week low of C$151.25 and a fifty-two week high of C$189.43. The business has a 50 day moving average of C$179.19 and a two-hundred day moving average of C$171.21.

Insider Transactions at Royal Bank of Canada

In other news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of C$182.30, for a total transaction of C$56,148.92. Also, Senior Officer Jennifer Kristine Publicover sold 401 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of C$174.06, for a total transaction of C$69,798.94. Following the completion of the transaction, the insider directly owned 152 shares in the company, valued at approximately C$26,457.45. The trade was a 72.51% decrease in their position. Insiders have sold 63,039 shares of company stock valued at $11,175,413 in the last 90 days.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.

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