Royal Bank of Canada (RY) Price Target Increased to C$113.00 by Analysts at CIBC

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target upped by CIBC from C$103.00 to C$113.00 in a research note issued to investors on Monday, November 13th.

A number of other analysts have also commented on RY. Scotiabank lowered Royal Bank of Canada from an outperform rating to a sector perform rating and cut their price target for the company from C$102.00 to C$100.00 in a report on Monday, August 21st. BMO Capital Markets reiterated a market perform rating and set a C$100.00 target price on shares of Royal Bank of Canada in a report on Thursday, August 24th. National Bank Financial dropped their target price on Royal Bank of Canada from C$101.00 to C$99.00 and set a sector perform rating on the stock in a report on Thursday, August 24th. Barclays boosted their price target on Royal Bank of Canada from C$94.20 to C$96.00 in a research report on Friday, August 25th. Finally, Eight Capital boosted their price target on Royal Bank of Canada from C$102.00 to C$105.00 in a research report on Friday, August 25th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of C$104.67.

Shares of Royal Bank of Canada (TSE:RY) traded up C$0.31 during trading on Monday, hitting C$101.16. The company had a trading volume of 2,310,000 shares, compared to its average volume of 1,640,000. Royal Bank of Canada has a twelve month low of C$86.83 and a twelve month high of C$102.15.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, January 25th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, January 24th. Royal Bank of Canada’s payout ratio is 47.54%.

In related news, Director Thierry Vandal acquired 729 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was acquired at an average cost of C$91.91 per share, for a total transaction of C$67,002.39. Also, Director David Ian Mckay sold 5,352 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of C$101.19, for a total value of C$541,568.88. Insiders sold a total of 25,328 shares of company stock valued at $2,456,793 over the last quarter.

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About Royal Bank of Canada

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services, and Capital Markets. The Personal & Commercial Banking segment engages in the personal and business banking operations, auto financing, and retail investment businesses.

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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