Royal Bank of Canada (TSE:RY) Receives C$260.27 Average PT from Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$260.42.

A number of equities research analysts have weighed in on RY shares. Raymond James Financial lifted their target price on Royal Bank of Canada from C$265.50 to C$270.50 and gave the stock a “market perform” rating in a report on Friday, May 29th. Barclays increased their price target on Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Canadian Imperial Bank of Commerce raised their price objective on shares of Royal Bank of Canada from C$258.00 to C$279.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. National Bank Financial lifted their price objective on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, TD Securities cut their target price on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research note on Friday, February 27th.

Insider Activity at Royal Bank of Canada

In other news, insider Jennifer Kristine Publicover sold 439 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total value of C$114,943.37. Following the completion of the sale, the insider directly owned 152 shares in the company, valued at C$39,798.16. This trade represents a 74.28% decrease in their position. Also, insider Graeme Ashley Hepworth sold 1,463 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total value of C$355,245.66. Over the last ninety days, insiders have sold 96,950 shares of company stock worth $25,181,544.

Royal Bank of Canada Trading Down 0.1%

Shares of RY opened at C$275.76 on Thursday. The firm’s fifty day simple moving average is C$248.99 and its two-hundred day simple moving average is C$235.69. Royal Bank of Canada has a 12 month low of C$173.39 and a 12 month high of C$278.35. The stock has a market capitalization of C$383.22 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%.The firm had revenue of C$17.45 billion during the quarter. As a group, research analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were issued a dividend of $1.64 per share. The ex-dividend date was Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 2.4%. Royal Bank of Canada’s dividend payout ratio is currently 41.35%.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.