Royal Bank of Canada (TSE:RY) Price Target Increased to C$165.00 by Analysts at BMO Capital Markets

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective increased by BMO Capital Markets from C$151.00 to C$165.00 in a research report issued on Thursday, BayStreet.CA reports. BMO Capital Markets’ price target points to a potential upside of 2.38% from the stock’s current price.

RY has been the topic of a number of other reports. Bank of America increased their price objective on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research report on Thursday. UBS Group set a C$165.00 target price on shares of Royal Bank of Canada and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Desjardins upped their target price on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Barclays upped their target price on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research note on Tuesday, August 20th. Finally, CIBC upped their target price on shares of Royal Bank of Canada from C$155.00 to C$166.00 in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$161.50.

Royal Bank of Canada Price Performance

Shares of TSE RY traded up C$1.19 during mid-day trading on Thursday, hitting C$161.17. 863,659 shares of the company’s stock traded hands, compared to its average volume of 5,004,763. The company’s 50-day moving average is C$150.25 and its two-hundred day moving average is C$142.14. The company has a market capitalization of C$228.86 billion, a P/E ratio of 14.28, a PEG ratio of 10.64 and a beta of 0.85. Royal Bank of Canada has a 1 year low of C$107.92 and a 1 year high of C$162.73.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.37% and a return on equity of 13.38%. The company had revenue of C$14.63 billion for the quarter, compared to analyst estimates of C$14.27 billion. Equities analysts anticipate that Royal Bank of Canada will post 12.8601286 EPS for the current fiscal year.

Insider Activity at Royal Bank of Canada

In related news, Senior Officer Bruce Washington Ross sold 20,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the completion of the sale, the insider now owns 235 shares of the company’s stock, valued at C$33,133.12. In related news, Senior Officer Bruce Washington Ross sold 20,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the completion of the sale, the insider now owns 235 shares of the company’s stock, valued at C$33,133.12. Also, Senior Officer Neil Mclaughlin sold 14,778 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. Insiders sold 101,302 shares of company stock valued at $14,592,565 over the last 90 days.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.