Raymond James Financial Raises Royal Bank of Canada (TSE:RY) Price Target to C$270.50

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lifted by Raymond James Financial from C$265.50 to C$270.50 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Raymond James Financial’s target price suggests a potential upside of 4.28% from the company’s previous close.

RY has been the topic of a number of other research reports. Jefferies Financial Group increased their price target on Royal Bank of Canada from C$226.00 to C$232.00 in a research report on Wednesday, May 20th. TD Securities dropped their price objective on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. TD raised their price objective on Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a research report on Friday. Scotiabank raised their price objective on 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, May 4th. Finally, National Bank Financial raised their price objective on Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average target price of C$258.50.

Royal Bank of Canada Trading Down 0.4%

Shares of RY traded down C$1.14 during midday trading on Friday, reaching C$259.40. 1,116,860 shares of the stock were exchanged, compared to its average volume of 3,728,900. Royal Bank of Canada has a 52 week low of C$171.29 and a 52 week high of C$265.10. The company’s 50 day moving average is C$240.41 and its two-hundred day moving average is C$231.76. The company has a market capitalization of C$360.70 billion, a P/E ratio of 17.82, a PEG ratio of 3.42 and a beta of 1.14.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share (EPS) for the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%.The business had revenue of C$17.45 billion for the quarter. On average, sell-side analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Buying and Selling

In other Royal Bank of Canada news, Director David Ian Mckay sold 23,089 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total value of C$6,045,392.87. Following the completion of the sale, the director directly owned 5,873 shares in the company, valued at approximately C$1,537,727.59. This trade represents a 79.72% decrease in their ownership of the stock. Also, insider Graeme Ashley Hepworth sold 1,463 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total value of C$383,057.29. Insiders sold a total of 58,220 shares of company stock valued at $14,690,362 in the last 90 days.

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.