David Ian Mckay Sells 4,130 Shares of Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) Director David Ian Mckay sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of C$134.77, for a total value of C$556,595.97. Following the completion of the sale, the director now owns 5,873 shares of the company’s stock, valued at approximately C$791,498.34.

David Ian Mckay also recently made the following trade(s):

• On Monday, November 21st, David Ian Mckay sold 4,078 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$132.33, for a total value of C$539,651.12.

Royal Bank of Canada Trading Up 0.0 %

TSE RY opened at C$134.73 on Tuesday. Royal Bank of Canada has a 12 month low of C$116.75 and a 12 month high of C$148.26. The stock has a market cap of C$186.31 billion and a P/E ratio of 12.18. The stock’s fifty day moving average price is C$131.48 and its 200-day moving average price is C$127.37.

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) last released its earnings results on Wednesday, November 30th. The financial services provider reported C$2.78 EPS for the quarter, topping analysts’ consensus estimates of C$2.71 by C$0.07. The company had revenue of C$12.57 billion during the quarter. As a group, analysts forecast that Royal Bank of Canada will post 12.6999987 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Stockholders of record on Thursday, January 26th will be paid a $1.32 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.28. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Wednesday, January 25th. Royal Bank of Canada’s dividend payout ratio is currently 44.85%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RY shares. Fundamental Research restated a “buy” rating and set a C$138.40 target price on shares of Royal Bank of Canada in a report on Tuesday, December 13th. Credit Suisse Group upped their target price on Royal Bank of Canada to C$153.00 in a report on Thursday, December 1st. National Bankshares decreased their target price on Royal Bank of Canada from C$147.00 to C$145.00 in a report on Wednesday, December 21st. CSFB upped their target price on Royal Bank of Canada from C$150.00 to C$153.00 in a report on Thursday, December 1st. Finally, Barclays increased their price objective on Royal Bank of Canada from C$140.00 to C$151.00 in a report on Thursday, December 1st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$144.92.

Royal Bank of Canada Company Profile

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Royal Bank of Canada operates as a diversified financial service company. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury, and Capital Markets. The Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions, as well as indirect lending, including auto financing; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.