Royal Bank of Canada (TSE:RY) Price Target Raised to C$168.00

Royal Bank of Canada (TSE:RYFree Report) (NYSE:RY) had its price objective hoisted by Jefferies Financial Group from C$159.00 to C$168.00 in a research report sent to investors on Thursday, BayStreet.CA reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Scotiabank raised their price target on Royal Bank of Canada from C$148.00 to C$153.00 and gave the company an outperform rating in a report on Friday, May 31st. CIBC upped their price target on shares of Royal Bank of Canada from C$135.00 to C$150.00 and gave the stock a neutral rating in a research report on Friday, May 31st. Desjardins raised their price objective on shares of Royal Bank of Canada from C$142.00 to C$156.00 and gave the company a buy rating in a research report on Friday, May 31st. BMO Capital Markets cut shares of Royal Bank of Canada from a strong-buy rating to a hold rating in a research note on Friday, May 31st. Finally, Canaccord Genuity Group boosted their price objective on shares of Royal Bank of Canada from C$142.00 to C$146.00 and gave the stock a buy rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus target price of C$144.50.

Check Out Our Latest Research Report on Royal Bank of Canada

Royal Bank of Canada Stock Up 0.3 %

TSE:RY opened at C$147.12 on Thursday. The firm has a market cap of C$207.44 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 10.64 and a beta of 0.83. The company’s 50-day moving average price is C$139.66 and its two-hundred day moving average price is C$133.98. Royal Bank of Canada has a 12 month low of C$107.92 and a 12 month high of C$149.24.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be paid a $1.42 dividend. The ex-dividend date is Thursday, July 25th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.38. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.86%. Royal Bank of Canada’s dividend payout ratio is 51.54%.

Insider Activity at Royal Bank of Canada

In related news, Senior Officer Neil Mclaughlin sold 14,778 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total transaction of C$2,161,474.61.

Royal Bank of Canada Company Profile

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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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