Royal Bank of Canada (TSE:RY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) have been assigned a consensus rating of “Buy” from the fourteen brokerages that are covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$143.27.

Several analysts recently issued reports on RY shares. Fundamental Research reissued a “buy” rating and issued a C$143.00 price target on shares of Royal Bank of Canada in a report on Wednesday, September 7th. Scotiabank cut their target price on Royal Bank of Canada from C$147.00 to C$144.00 in a research note on Thursday, August 18th. CIBC cut their target price on Royal Bank of Canada from C$146.00 to C$140.00 in a research note on Wednesday, September 7th. TD Securities cut their target price on Royal Bank of Canada from C$150.00 to C$145.00 and set a “buy” rating on the stock in a research note on Friday, May 27th. Finally, Argus lifted their target price on Royal Bank of Canada to C$157.00 and gave the company a “buy” rating in a research note on Tuesday, June 7th.

Insider Buying and Selling

In related news, Senior Officer Bruce Washington Ross sold 14,000 shares of Royal Bank of Canada stock in a transaction on Thursday, June 30th. The stock was sold at an average price of C$123.81, for a total value of C$1,733,404.40. Following the transaction, the insider now directly owns 235 shares in the company, valued at approximately C$29,096.43. In related news, Senior Officer Bruce Washington Ross sold 14,000 shares of Royal Bank of Canada stock in a transaction on Thursday, June 30th. The stock was sold at an average price of C$123.81, for a total value of C$1,733,404.40. Following the transaction, the insider now directly owns 235 shares in the company, valued at approximately C$29,096.43. Also, Director David Ian Mckay sold 4,078 shares of Royal Bank of Canada stock in a transaction on Monday, August 22nd. The stock was sold at an average price of C$127.06, for a total value of C$518,149.86. Following the completion of the transaction, the director now owns 5,873 shares in the company, valued at C$746,222.21. Insiders have sold 26,234 shares of company stock worth $3,269,541 in the last three months.

Royal Bank of Canada Trading Down 0.5 %

Shares of RY opened at C$124.98 on Friday. The firm has a market cap of C$173.94 billion and a price-to-earnings ratio of 11.38. Royal Bank of Canada has a 52 week low of C$118.24 and a 52 week high of C$149.60. The stock has a 50 day moving average of C$125.24 and a 200-day moving average of C$129.61.

Royal Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Stockholders of record on Wednesday, October 26th will be given a dividend of $1.28 per share. This represents a $5.12 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, October 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 43.35%.

About Royal Bank of Canada

(Get Rating)

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.

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Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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