Royal Bank of Canada (TSE:RY – Get a rating) (NYSE:RY) announced a quarterly dividend on Thursday, February 24, RTT News reports. Shareholders of record on Monday, April 25 will receive a dividend of 1.20 per share from the financial services provider on Tuesday, May 24. This represents a dividend of $4.80 on an annualized basis and a dividend yield of 3.42%.
Royal Bank of Canada has increased its dividend by 17.1% over the past three years and has increased its dividend annually for the past 2 consecutive years. Royal Bank of Canada has a dividend payout ratio of 41.2%, which means its dividend is sufficiently covered by earnings.
RY stock opened at C$140.49 on Thursday. The company has a market capitalization of C$200.15 billion and a price-earnings ratio of 12.70. The company has a 50-day simple moving average of C$141.21 and a 200-day simple moving average of C$133.84. Royal Bank of Canada has a 52-week low of C$108.15 and a 52-week high of C$149.60.
Royal Bank of Canada (TSE:RY – Get a rating) (NYSE:RY) last reported quarterly earnings on Wednesday, December 1. The financial services provider reported earnings per share (EPS) of C$2.71 for the quarter, missing the consensus estimate of C$2.81 by C$0.10. The company posted revenue of C$12.38 billion in the quarter, while analysts had expected C$11.66 billion. As a group, stock analysts expect Royal Bank of Canada to post earnings per share of 11.9499989 for the current year.
This is a stock that has kept its expenses in line and has a positive EBITDA.
Several equity analysts have recently commented on the stock. Scotiabank cut its price target on Royal Bank of Canada shares from C$149.00 to C$146.00 and set an ‘outperform’ rating for the stock in a Thursday research report December 2. CIBC raised its price target on Royal Bank of Canada shares from C$143.00 to C$152.00 and gave the company a “neutral” rating in a Thursday, Feb. 17 research note . Cormark lowered its price target on Royal Bank of Canada shares from C$147.00 to C$146.00 in a Thursday, Dec. 2 research note. TD Securities raised its price target on Royal Bank of Canada shares from C$150.00 to C$165.00 in a Tuesday, February 15 research note. Finally, Fundamental Research raised its price target on Royal Bank of Canada shares from C$143.76 to C$152.07 and gave the company a “buy” rating in a research note from the Tuesday, December 7. Three equity research analysts gave the stock a hold rating and eleven gave the company a buy rating. According to data from MarketBeat.com, Royal Bank of Canada has an average buy rating and an average target price of C$147.43.
In other Royal Bank of Canada news, Senior Officer Helena Gottschling sold 404 Royal Bank of Canada shares in a trade on Monday, January 24. The shares were sold at an average price of CA$141.43, for a total transaction of CA$57,139.70. Following the completion of the sale, the insider now owns 1,328 shares of the company, valued at approximately C$187,825.55. Additionally, director David Ian Mckay sold 4,077 shares of the company in a trade on Tuesday, February 22. The shares were sold at an average price of CA$141.68, for a total transaction of CA$577,611.83. As a result of the transaction, the administrator now owns 5,873 shares of the company, valued at approximately C$832,061.39. Insiders sold a total of 8,962 shares of the company valued at $1,268,461 over the past ninety days.
Profile of Royal Bank of Canada (Get a rating)
Royal Bank of Canada is a globally diversified financial services company. The Company’s Personal and Commercial Banking segment offers checking and savings accounts, home equity financing, personal loans, private banking, indirect loans, 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, commercial products and services to small and medium commercial enterprises.
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