Royal Bank of Canada (TSE:RY) Given New C$181.00 Price Target at National Bankshares

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by National Bankshares from C$169.00 to C$181.00 in a research report released on Wednesday morning,BayStreet.CA reports.

A number of other research firms have also recently commented on RY. Barclays lifted their price target on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research note on Tuesday, August 20th. Jefferies Financial Group dropped their target price on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a research report on Monday, August 12th. BMO Capital Markets increased their price target on Royal Bank of Canada from C$165.00 to C$195.00 in a report on Monday, November 18th. CIBC raised their price target on Royal Bank of Canada from C$166.00 to C$167.00 in a research note on Friday, September 6th. Finally, Canaccord Genuity Group upped their price objective on Royal Bank of Canada from C$172.00 to C$188.00 in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$171.58.

Royal Bank of Canada Stock Performance

Shares of RY opened at C$174.71 on Wednesday. The stock has a market capitalization of C$246.34 billion, a PE ratio of 15.47, a P/E/G ratio of 3.42 and a beta of 0.84. The company’s fifty day moving average is C$170.00 and its 200 day moving average is C$156.75. Royal Bank of Canada has a fifty-two week low of C$115.57 and a fifty-two week high of C$175.32.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. The firm had revenue of C$14.63 billion for the quarter, compared to the consensus estimate of C$14.27 billion. As a group, research analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 22nd were issued a $1.42 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $5.68 annualized dividend and a dividend yield of 3.25%. Royal Bank of Canada’s payout ratio is currently 50.31%.

Insider Buying and Selling

In other Royal Bank of Canada news, Director David Ian Mckay sold 74,852 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 15,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of C$165.00, for a total value of C$2,475,000.00. Following the completion of the transaction, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,125. The trade was a 99.83 % decrease in their ownership of the stock. Insiders sold a total of 144,770 shares of company stock valued at $23,959,265 over 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.