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

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 target lifted by research analysts at National Bankshares from C$177.00 to C$180.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the financial services provider's stock. National Bankshares' target price would suggest a potential downside of 4.94% from the company's previous close.

A number of other research analysts also recently commented on the company. Canaccord Genuity Group set a C$194.00 price objective on Royal Bank of Canada and gave the stock a "buy" rating in a research note on Tuesday, June 24th. UBS Group lowered their price objective on Royal Bank of Canada from C$198.00 to C$196.00 in a research note on Thursday, May 22nd. Jefferies Financial Group increased their price target on Royal Bank of Canada from C$198.00 to C$207.00 in a research note on Wednesday, August 13th. Desjardins increased their price target on Royal Bank of Canada from C$185.00 to C$193.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Finally, Barclays increased their price target on Royal Bank of Canada from C$182.00 to C$190.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of "Buy" and a consensus target price of C$190.54.

Royal Bank of Canada Trading Up 0.2%

RY traded up C$0.32 during trading on Friday, reaching C$189.35. 1,533,815 shares of the company were exchanged, compared to its average volume of 4,411,028. The stock has a market cap of C$267.93 billion, a P/E ratio of 16.50, a PEG ratio of 3.42 and a beta of 0.84. The firm has a 50 day moving average of C$180.30 and a 200 day moving average of C$171.53. Royal Bank of Canada has a 52 week low of C$151.25 and a 52 week high of C$189.68.

Insider Activity

In other news, Director David Ian Mckay sold 20,304 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total value of C$3,701,453.72. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of C$182.30, for a total value of C$56,148.92. Insiders sold a total of 63,039 shares of company stock worth $11,175,413 over 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.