Royal Bank of Canada (TSE:RY) Receives C$134.10 Average PT from Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have earned a consensus rating of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$134.03.

A number of brokerages have weighed in on RY. National Bankshares cut their price target on shares of Royal Bank of Canada from C$142.00 to C$136.00 and set an “outperform” rating for the company in a report on Friday, May 26th. Bank of America reduced their target price on shares of Royal Bank of Canada from C$141.00 to C$130.00 in a report on Friday, May 26th. Scotiabank dropped their price target on Royal Bank of Canada from C$143.00 to C$141.00 and set an “outperform” rating on the stock in a report on Monday, August 21st. CIBC reduced their price objective on Royal Bank of Canada from C$139.00 to C$129.00 and set a “neutral” rating for the company in a research note on Tuesday, August 22nd. Finally, Canaccord Genuity Group lifted their target price on Royal Bank of Canada from C$128.50 to C$135.00 and gave the stock a “hold” rating in a report on Monday, July 24th.

Insider Buying and Selling

In other news, Director David Ian Mckay sold 4,131 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of C$132.02, for a total value of C$545,374.62.

Royal Bank of Canada Stock Up 1.2 %

Shares of Royal Bank of Canada stock opened at C$123.46 on Friday. The business has a fifty day simple moving average of C$125.51 and a 200-day simple moving average of C$127.81. Royal Bank of Canada has a fifty-two week low of C$116.75 and a fifty-two week high of C$140.18. The firm has a market cap of C$172.84 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 6.86 and a beta of 0.78.

Royal Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.37%. The ex-dividend date is Wednesday, October 25th. Royal Bank of Canada’s payout ratio is 52.22%.

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.