Royal Bank of Canada (RY) Reaches New 52-Week High at $105.44

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$105.44 and last traded at C$104.84, with a volume of 1510666 shares trading hands. The stock had previously closed at C$104.31.

Several brokerages have commented on RY. Eight Capital increased their price target on shares of Royal Bank of Canada from C$105.00 to C$107.00 in a research note on Thursday, November 30th. Canaccord Genuity increased their price target on shares of Royal Bank of Canada from C$100.00 to C$105.00 in a research note on Wednesday, November 1st. National Bank Financial increased their price target on shares of Royal Bank of Canada from C$101.00 to C$105.00 and gave the company a “sector perform” rating in a research note on Thursday, November 30th. Citigroup increased their price target on shares of Royal Bank of Canada from C$118.00 to C$120.00 in a research note on Tuesday, December 12th. Finally, Scotiabank increased their price target on shares of Royal Bank of Canada from C$110.00 to C$111.00 and gave the company a “sector perform” rating in a research note on Thursday, November 30th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of C$107.42.

The firm has a market capitalization of $152,900.00, a PE ratio of 13.87 and a beta of 0.72.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $3.64 dividend on an annualized basis and a yield of 3.47%. Royal Bank of Canada’s dividend payout ratio (DPR) is 46.03%.

In other Royal Bank of Canada news, insider Alex Douglas Mcgregor sold 7,403 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of C$101.73, for a total value of C$753,107.19. Also, Director Jeffery William Yabuki bought 1,000 shares of Royal Bank of Canada stock in a transaction on Tuesday, December 5th. The stock was acquired at an average cost of C$79.63 per share, with a total value of C$79,630.00. In the last three months, insiders sold 18,795 shares of company stock valued at $1,907,804.

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Royal Bank of Canada Company Profile

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.

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