Royal Bank of Canada (TSE:RY) Receives C$176.58 Average PT from Brokerages

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have earned an average recommendation of “Buy” from the eleven ratings firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$180.50.

RY has been the subject of a number of research analyst reports. National Bankshares boosted their target price on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Jefferies Financial Group decreased their price objective on Royal Bank of Canada from C$197.00 to C$192.00 in a report on Tuesday. Canaccord Genuity Group increased their target price on Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. CIBC decreased their price target on shares of Royal Bank of Canada from C$176.00 to C$175.00 in a research note on Tuesday. Finally, Scotiabank lowered their price objective 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 report on Thursday.

Insider Buying and Selling at Royal Bank of Canada

In related news, 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. Also, Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$3,555,721.76. In the last 90 days, insiders sold 22,150 shares of company stock worth $3,882,024.

Royal Bank of Canada Trading Down 1.2 %

TSE:RY opened at C$169.40 on Friday. Royal Bank of Canada has a 12 month low of C$130.44 and a 12 month high of C$180.45. The stock has a market capitalization of C$239.70 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 3.42 and a beta of 0.84. The firm has a fifty day simple moving average of C$173.09 and a two-hundred day simple moving average of C$168.83.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 24th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 3.49%. Royal Bank of Canada’s payout ratio is 49.49%.

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.