CIBC Cuts Royal Bank of Canada (TSE:RY) Price Target to C$167.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price decreased by equities research analysts at CIBC from C$175.00 to C$167.00 in a report issued on Wednesday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 1.38% from the company’s previous close.

RY has been the topic of several other reports. Jefferies Financial Group cut their price objective on shares of Royal Bank of Canada from C$197.00 to C$192.00 in a research report on Tuesday, February 18th. BMO Capital Markets dropped their price target on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th. National Bankshares raised their price objective on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. TD Securities decreased their price target on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Finally, Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Royal Bank of Canada currently has a consensus rating of “Buy” and a consensus price target of C$181.17.

Royal Bank of Canada Price Performance

TSE RY traded up C$1.71 during mid-day trading on Wednesday, hitting C$164.73. The company’s stock had a trading volume of 1,119,280 shares, compared to its average volume of 4,457,262. Royal Bank of Canada has a 52-week low of C$131.57 and a 52-week high of C$180.45. The stock’s fifty day simple moving average is C$172.15 and its two-hundred day simple moving average is C$169.94. The firm has a market capitalization of C$233.09 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Insider Transactions at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total transaction of C$272,363.80. Following the completion of the transaction, the insider now directly owns 25 shares of the company’s stock, valued at C$4,427.24. This trade represents a 98.40 % decrease in their position. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the company’s 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 value of C$53,938.25. Insiders have sold a total of 42,762 shares of company stock worth $7,379,177 in the last 90 days.

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.