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

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY had its price target decreased by investment analysts at National Bankshares from C$190.00 to C$179.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. National Bankshares' price objective would suggest a potential upside of 13.81% from the stock's previous close.

A number of other brokerages have also recently weighed in on RY. Jefferies Financial Group reduced their price target on shares of Royal Bank of Canada from C$197.00 to C$192.00 in a research report on Tuesday, February 18th. TD Securities dropped their price target on Royal Bank of Canada from C$180.00 to C$178.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. CIBC upgraded Royal Bank of Canada from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from C$167.00 to C$168.00 in a research note on Friday, April 4th. Scotiabank lowered their target price on shares of Royal Bank of Canada from C$197.00 to C$191.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Finally, Cormark reduced their price target on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of C$181.00.

Royal Bank of Canada Stock Performance

RY stock traded up C$3.68 during midday trading on Monday, reaching C$157.28. 5,002,145 shares of the company were exchanged, compared to its average volume of 4,453,790. The company has a market cap of C$222.55 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 1-year low of C$131.57 and a 1-year high of C$180.45. The stock's 50-day simple moving average is C$164.45 and its 200 day simple moving average is C$169.91.

Insider Activity

In other Royal Bank of Canada news, Senior Officer Graeme Ashley Hepworth sold 308 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$53,938.25. Also, Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock in a transaction that occurred on 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. Insiders sold 61,836 shares of company stock valued at $10,443,690 in the last three months.

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.