Desjardins Raises Royal Bank of Canada (TSE:RY) Price Target to C$262.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target increased by research analysts at Desjardins from C$250.00 to C$262.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Desjardins’ price target would suggest a potential upside of 7.62% from the stock’s previous close.

A number of other equities research analysts also recently commented on RY. National Bank Financial increased their price objective on shares of Royal Bank of Canada from C$241.00 to C$247.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Jefferies Financial Group increased their price objective on shares of Royal Bank of Canada from C$217.00 to C$220.00 in a research report on Wednesday, February 11th. Scotiabank increased their price objective on shares of Royal Bank of Canada from C$247.00 to C$252.00 and gave the company a “sector outperform” rating in a research report on Monday. Raymond James Financial increased their price objective on shares of Royal Bank of Canada from C$255.00 to C$260.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Canaccord Genuity Group increased their price objective on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$247.62.

Royal Bank of Canada Stock Up 0.4%

Royal Bank of Canada stock traded up C$1.09 during mid-day trading on Tuesday, reaching C$243.46. 1,395,581 shares of the company’s stock were exchanged, compared to its average volume of 3,738,918. The company has a market cap of C$338.54 billion, a P/E ratio of 16.72, a P/E/G ratio of 3.42 and a beta of 1.07. Royal Bank of Canada has a twelve month low of C$165.36 and a twelve month high of C$246.72. The company has a fifty day moving average of C$230.93 and a 200-day moving average of C$225.65.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. The company had revenue of C$17.96 billion for the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. Equities research analysts expect that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Insider Transactions at Royal Bank of Canada

In related news, insider Katherine Gibson sold 462 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total value of C$112,182.84. Following the transaction, the insider directly owned 290 shares of the company’s stock, valued at C$70,417.80. This trade represents a 61.44% decrease in their position. Also, insider Bruce Washington Ross sold 3,657 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total transaction of C$887,992.74. Following the completion of the transaction, the insider directly owned 235 shares in the company, valued at C$57,062.70. This trade represents a 93.96% decrease in their ownership of the stock. Over the last three months, insiders sold 29,110 shares of company stock worth $7,068,490.

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.