Royal Bank of Canada (TSE:RY) Price Target Increased to C$165.00 by Analysts at BMO Capital Markets

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price increased by BMO Capital Markets from C$151.00 to C$165.00 in a research report report published on Thursday, MarketBeat Ratings reports. The brokerage currently has a strong-buy rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the stock. CIBC raised their target price on shares of Royal Bank of Canada from C$155.00 to C$166.00 in a research note on Thursday. Argus upgraded shares of Royal Bank of Canada to a strong-buy rating in a research note on Thursday, June 6th. Barclays raised their target price on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research note on Tuesday, August 20th. UBS Group set a C$165.00 target price on shares of Royal Bank of Canada and gave the stock a buy rating in a research note on Tuesday, July 2nd. Finally, National Bankshares raised their price objective on shares of Royal Bank of Canada from C$160.00 to C$169.00 in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Buy and a consensus target price of C$161.50.

Royal Bank of Canada Stock Up 1.4 %

TSE RY opened at C$162.98 on Thursday. Royal Bank of Canada has a 52 week low of C$107.92 and a 52 week high of C$163.06. The firm has a 50 day moving average of C$151.42 and a two-hundred day moving average of C$142.71. The stock has a market capitalization of C$231.43 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 10.64 and a beta of 0.85.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. 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$14.63 billion for the quarter, compared to the consensus estimate of C$14.27 billion. On average, equities research analysts expect that Royal Bank of Canada will post 12.8601286 earnings per share for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be issued a dividend of $1.42 per share. The ex-dividend date is Thursday, October 24th. This represents a $5.68 annualized dividend and a yield of 3.49%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Neil Mclaughlin sold 14,778 shares of the firm’s stock in a transaction dated 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. In other news, Senior Officer Neil Mclaughlin sold 14,778 shares of Royal Bank of Canada stock in a transaction dated 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. Also, Senior Officer Bruce Washington Ross sold 12,170 shares of Royal Bank of Canada 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 of the company’s stock, valued at C$33,243.81. In the last three months, insiders sold 101,302 shares of company stock worth $14,592,565.

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.