National Bankshares Lowers Royal Bank of Canada (TSE:RY) Price Target to C$179.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target cut by analysts at National Bankshares from C$190.00 to C$179.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. National Bankshares’ price objective suggests a potential upside of 14.83% from the stock’s previous close.

A number of other research analysts have also weighed in on RY. CIBC raised shares of Royal Bank of Canada from a “neutral” rating to an “outperform” rating and lifted their price target for the company from C$167.00 to C$168.00 in a research note on Friday. Scotiabank reduced their target price on shares of Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday. UBS Group lifted their target price on Royal Bank of Canada from C$192.00 to C$198.00 in a research report on Friday, March 7th. Finally, Jefferies Financial Group decreased their price target on shares of Royal Bank of Canada from C$197.00 to C$192.00 in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$181.00.

Royal Bank of Canada Trading Down 1.2 %

Shares of TSE:RY traded down C$1.94 during mid-day trading on Monday, reaching C$155.88. The stock had a trading volume of 2,116,739 shares, compared to its average volume of 4,251,012. The firm has a market cap of C$220.57 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The firm has a 50 day simple moving average of C$167.08 and a two-hundred day simple moving average of C$170.45. Royal Bank of Canada has a twelve month low of C$131.57 and a twelve month high of C$180.45.

Insider Activity

In related news, Director David Ian Mckay sold 20,304 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total transaction of C$3,555,721.76. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total transaction of C$53,938.25. Over the last quarter, insiders have sold 61,836 shares of company stock valued at $10,443,690.

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 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.