Royal Bank of Canada (TSE:RY) Price Target Increased to C$171.00 by Analysts at TD Securities

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective hoisted by TD Securities from C$160.00 to C$171.00 in a report published on Thursday, BayStreet.CA reports.

Other research analysts have also issued research reports about the stock. CIBC upped their price objective on shares of Royal Bank of Canada from C$135.00 to C$150.00 and gave the company a neutral rating in a research note on Friday, May 31st. Argus raised shares of Royal Bank of Canada to a strong-buy rating in a research note on Thursday, June 6th. UBS Group set a C$165.00 price objective on Royal Bank of Canada and gave the company a buy rating in a research report on Tuesday, July 2nd. Scotiabank upped their target price on Royal Bank of Canada from C$148.00 to C$153.00 and gave the stock an outperform rating in a research report on Friday, May 31st. Finally, Desjardins boosted their price target on Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a buy rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada has an average rating of Moderate Buy and an average price target of C$146.76.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded up C$0.64 during midday trading on Thursday, reaching C$149.84. The stock had a trading volume of 1,710,211 shares, compared to its average volume of 5,175,191. The firm has a market cap of C$211.27 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 10.64 and a beta of 0.83. The firm’s fifty day simple moving average is C$148.29 and its two-hundred day simple moving average is C$140.09. Royal Bank of Canada has a twelve month low of C$107.92 and a twelve month high of C$155.22.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Thursday, May 30th. The financial services provider reported C$2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.77 by C$0.15. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. The firm had revenue of C$14.15 billion during the quarter, compared to the consensus estimate of C$13.58 billion. As a group, sell-side analysts predict that Royal Bank of Canada will post 11.1525292 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.79%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.38. The ex-dividend date is Thursday, July 25th. Royal Bank of Canada’s dividend payout ratio is presently 51.54%.

Insiders Place Their Bets

In related news, Senior Officer Neil Mclaughlin sold 14,778 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. In other news, Senior Officer Bruce Washington Ross sold 12,170 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of C$141.46, for a total value of C$1,721,604.71. Following the completion of the sale, the insider now directly owns 235 shares in the company, valued at C$33,243.81. Also, Senior Officer Neil Mclaughlin sold 14,778 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. Insiders have sold 101,302 shares of company stock worth $14,592,565 over the last 90 days.

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.