A number of other equities research analysts have also recently commented on the company. Credit Suisse Group increased their target price on Royal Bank of Canada to C$150.00 in a report on Tuesday. Barclays increased their target price on Royal Bank of Canada from C$137.00 to C$140.00 in a report on Monday, November 14th. Fundamental Research reiterated a buy rating and set a C$143.00 target price on shares of Royal Bank of Canada in a report on Wednesday, September 7th. CIBC lowered their target price on Royal Bank of Canada from C$146.00 to C$140.00 in a report on Wednesday, September 7th. Finally, Canaccord Genuity Group decreased their price objective on Royal Bank of Canada from C$131.50 to C$130.50 in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Royal Bank of Canada currently has a consensus rating of Moderate Buy and an average target price of C$143.42.
Royal Bank of Canada Price Performance
TSE RY opened at C$134.83 on Tuesday. The business has a 50 day moving average price of C$126.11 and a 200 day moving average price of C$126.20. The company has a market capitalization of C$187.64 billion and a P/E ratio of 12.28. Royal Bank of Canada has a 1-year low of C$116.75 and a 1-year high of C$149.60.
Royal Bank of Canada Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 24th. Investors of record on Wednesday, October 26th will be given a $1.28 dividend. This represents a $5.12 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Tuesday, October 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 43.35%.
Insider Buying and Selling
In related news, Director David Ian Mckay sold 4,078 shares of the stock in a transaction on Monday, October 24th. The stock was sold at an average price of C$124.89, for a total value of C$509,291.63. Following the transaction, the director now directly owns 5,873 shares of the company’s stock, valued at approximately C$733,464.87. In the last ninety days, insiders have sold 12,234 shares of company stock valued at $1,559,529.
About Royal Bank of Canada
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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