Royal Bank of Canada (TSE:RY) PT Raised to C$167.00 at CIBC

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price upped by analysts at CIBC from C$166.00 to C$167.00 in a report released on Friday, BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 1.78% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Scotiabank dropped their target price on shares of Royal Bank of Canada from C$157.00 to C$154.00 in a research report on Monday, August 19th. Jefferies Financial Group lowered their price target on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a report on Monday, August 12th. UBS Group set a C$165.00 price objective on Royal Bank of Canada and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Barclays boosted their price objective on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research report on Tuesday, August 20th. Finally, BMO Capital Markets increased 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 report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$161.57.

Royal Bank of Canada Price Performance

Shares of RY opened at C$164.08 on Friday. The stock has a market capitalization of C$232.99 billion, a P/E ratio of 14.53, a P/E/G ratio of 10.64 and a beta of 0.85. Royal Bank of Canada has a 12-month low of C$107.92 and a 12-month high of C$166.00. The firm’s 50 day moving average is C$153.30 and its 200-day moving average is C$143.83.

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

Insider Activity

In other news, Director David Ian Mckay sold 74,852 shares of Royal Bank of Canada stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. In other news, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total value of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 15,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of C$165.00, for a total value of C$2,475,000.00. Following the transaction, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,125. In the last quarter, insiders have sold 186,376 shares of company stock valued at $28,872,206.

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.