Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given an average rating of “Buy” by the fourteen analysts who cover the company, MarketBeat reports. Two research analysts rated the stock with a hold recommendation and ten gave the company a buy recommendation. The 12-month average price target among brokers who have reported on the stock in the past year is C$143.84.
A number of equity research analysts have commented on the company. Scotiabank cut its target price on Royal Bank of Canada from C$149.00 to C$146.00 and set an “outperform” rating for the company in a report released Thursday, Dec. 2. CIBC cut its price target on Royal Bank of Canada from CA$149.00 to CA$143.00 and set a “neutral” rating for the company in a Thursday, Dec. 2 research note. Barclays reaffirmed an “overweight” rating and set a price target of C$144.00 on Royal Bank of Canada shares in a Wednesday, Dec. 1 research note. Cormark reduced its price target on Royal Bank of Canada from C$147.00 to C$146.00 in a research note on Thursday, December 2. Finally, Fundamental Research raised its price target on Royal Bank of Canada from C$143.76 to C$152.07 and gave the stock a “buy” rating in a Tuesday 7 research note. December.
In other Royal Bank of Canada news, Senior Officer Rod Bolger sold 536 Royal Bank of Canada shares in a trade dated Friday, October 22. The stock was sold at an average price of CA$133.21, for a total value of CA$71,401.04. Following the completion of the sale, the insider now owns 4,570 shares of the company, valued at approximately C$608,773.81. Additionally, manager David Ian Mckay sold 5,322 shares of Royal Bank of Canada in a trade dated Friday, November 19. The shares were sold at an average price of C$131.68, for a total value of C$700,799.90. Following the completion of the sale, the administrator now owns 5,873 shares of the company, valued at approximately C$773,355.47. Insiders sold a total of 11,180 shares of the company valued at $1,481,101 over the past 90 days.
Royal Bank of Canada Stocks opened at C$147.29 on Friday. Royal Bank of Canada has a 1-year low of C$103.22 and a 1-year high of C$147.30. The company has a fifty-day moving average of C$133.37 and a two-hundred-day moving average of C$130.33. The company has a market capitalization of C$209.84 billion and a P/E ratio of 13.32.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 24. Shareholders of record on Wednesday, January 26 will receive a dividend of $1.20. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.08. The ex-dividend date is Tuesday, January 25. This represents an annualized dividend of $4.80 and a yield of 3.26%. Royal Bank of Canada’s payout ratio is 39.06%.
About Royal Bank of Canada
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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