Barclays Boosts Royal Bank of Canada (TSE:RY) Price Target to C$150.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price upped by Barclays from C$145.00 to C$150.00 in a research report sent to investors on Tuesday, BayStreet.CA reports.

Several other equities analysts also recently issued reports on RY. National Bankshares reduced their price target on shares of Royal Bank of Canada from C$161.00 to C$160.00 and set an outperform rating for the company in a report on Friday, August 16th. Desjardins upped their price objective on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a buy rating in a report on Tuesday, August 6th. Argus raised shares of Royal Bank of Canada to a strong-buy rating in a report on Thursday, June 6th. Scotiabank reduced their price objective on shares of Royal Bank of Canada from C$157.00 to C$154.00 in a report on Monday. Finally, TD Securities upped their price objective on shares of Royal Bank of Canada from C$160.00 to C$171.00 in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Royal Bank of Canada has an average rating of Moderate Buy and an average target price of C$148.29.

Royal Bank of Canada Stock Performance

Shares of RY opened at C$154.30 on Tuesday. Royal Bank of Canada has a 1 year low of C$107.92 and a 1 year high of C$155.22. The company has a market cap of C$219.11 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 10.64 and a beta of 0.85. The firm has a fifty day moving average of C$149.43 and a 200-day moving average of C$141.45.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Thursday, May 30th. The financial services provider reported C$2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.77 by C$0.15. Royal Bank of Canada had a net margin of 28.37% and a return on equity of 13.38%. The company had revenue of C$14.15 billion during the quarter, compared to the consensus estimate of C$13.58 billion. Analysts predict that Royal Bank of Canada will post 12.588332 EPS for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.68%. This is an increase 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 52.01%.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Bruce Washington Ross sold 12,170 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of C$141.46, for a total transaction of C$1,721,604.71. Following the sale, the insider now owns 235 shares in the company, valued at approximately C$33,243.81. In other Royal Bank of Canada news, Senior Officer Bruce Washington Ross sold 12,170 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of C$141.46, for a total transaction of C$1,721,604.71. Following the sale, the insider now owns 235 shares in the company, valued at approximately C$33,243.81. Also, Senior Officer Douglas Antony Guzman sold 54,354 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of C$145.15, for a total value of C$7,889,646.16. Following the sale, the insider now owns 25 shares in the company, valued at approximately C$3,628.83. In the last three months, insiders sold 101,302 shares of company stock valued at $14,592,565.

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.