Royal Bank of Canada (TSE:RY) Sets New 12-Month High – Should You Buy?

Royal Bank of Canada (TSE:RY) (NYSE:RY) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$249.87 and last traded at C$249.87, with a volume of 3761321 shares. The stock had previously closed at C$247.37.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Desjardins raised their price objective on shares of Royal Bank of Canada from C$250.00 to C$262.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. National Bank Financial raised their price objective on shares of Royal Bank of Canada from C$241.00 to C$247.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Barclays raised their price objective on shares of Royal Bank of Canada from C$244.00 to C$245.00 in a report on Friday, February 27th. TD Securities reduced their price target on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, Jefferies Financial Group upped their price target on Royal Bank of Canada from C$217.00 to C$220.00 in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$247.62.

Royal Bank of Canada Price Performance

The firm has a 50-day moving average of C$232.59 and a 200-day moving average of C$227.43. The stock has a market cap of C$347.45 billion, a PE ratio of 17.16, a PEG ratio of 3.42 and a beta of 1.14.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Thursday, February 26th. The financial services provider reported C$4.08 EPS for the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%.The company had revenue of C$17.96 billion during the quarter. Equities analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 42.58%.

Insiders Place Their Bets

In other news, insider Jennifer Kristine Publicover sold 439 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total value of C$106,597.98. Following the completion of the sale, the insider directly owned 152 shares of the company’s stock, valued at C$36,908.64. This trade represents a 74.28% decrease in their position. Also, insider Katherine Gibson sold 462 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total value of C$112,182.84. Following the completion of the sale, the insider directly owned 290 shares of the company’s stock, valued at C$70,417.80. The trade was a 61.44% decrease in their ownership of the stock. Over the last three months, insiders sold 29,110 shares of company stock worth $7,068,490.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.