Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) had its price target raised by CIBC from C$166.00 to C$167.00 in a research report issued on Friday, BayStreet.CA reports. CIBC’s target price suggests a potential upside of 2.14% from the stock’s previous close.
A number of other analysts also recently issued reports on RY. Argus raised Royal Bank of Canada to a “strong-buy” rating in a research note on Thursday, June 6th. BMO Capital Markets upped their target price on shares of Royal Bank of Canada from C$151.00 to C$165.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Barclays upped their price target on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research report on Tuesday, August 20th. Bank of America raised their price target on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. Finally, UBS Group set a C$165.00 price objective on shares of Royal Bank of Canada and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$161.57.
Read Our Latest Stock Report on Royal Bank of Canada
Royal Bank of Canada Stock Down 0.4 %
Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last posted its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, topping analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.38% and a net margin of 28.37%. The business had revenue of C$14.63 billion during the quarter, compared to analyst estimates of C$14.27 billion. On average, analysts expect that Royal Bank of Canada will post 12.8601286 EPS for the current year.
Insider Activity
In related news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$164.60, for a total value of C$1,646,000.00. Following the sale, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,115. In related news, Senior Officer Bruce Washington Ross sold 12,170 shares of Royal Bank of Canada stock in a transaction on Monday, June 17th. The stock was sold at an average price of C$141.46, for a total transaction of C$1,721,604.71. Following the completion of the sale, the insider now owns 235 shares of the company’s stock, valued at C$33,243.81. Also, Senior Officer Douglas Antony Guzman sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.60, for a total value of C$1,646,000.00. Following the transaction, the insider now owns 25 shares in the company, valued at C$4,115. In the last three months, insiders sold 171,376 shares of company stock worth $26,397,206.
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.
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