Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target decreased by analysts at National Bank Financial from C$119.00 to C$94.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s target price points to a potential upside of 8.78% from the stock’s previous close.
A number of other research firms have also commented on RY. Desjardins lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Scotiabank upped their price target on Royal Bank of Canada from C$114.00 to C$116.00 in a research report on Thursday, February 20th. Finally, TD Securities lowered their price target on Royal Bank of Canada from C$115.00 to C$105.00 and set a “buy” rating for the company in a research report on Friday, March 20th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of C$109.73.
RY opened at C$86.41 on Wednesday. The business has a 50 day simple moving average of C$97.96 and a two-hundred day simple moving average of C$103.93. The firm has a market capitalization of $111.78 billion and a price-to-earnings ratio of 9.60. Royal Bank of Canada has a one year low of C$72.00 and a one year high of C$109.68.
In other Royal Bank of Canada news, Director David Ian Mckay sold 7,516 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of C$108.03, for a total transaction of C$811,983.54. Following the transaction, the director now owns 5,873 shares in the company, valued at approximately C$634,483.68. Insiders have sold a total of 22,548 shares of company stock worth $2,246,115 in the last quarter.
Royal Bank of Canada Company Profile
Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.
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