Other analysts also recently issued research reports about the company. Barclays PLC raised their price objective on Royal Bank of Canada from C$67.00 to C$72.00 and gave the stock an underweight rating in a research note on Wednesday, August 17th. CIBC raised their price objective on Royal Bank of Canada from C$81.00 to C$82.00 in a research note on Wednesday, August 10th. CSFB dropped their price objective on Royal Bank of Canada from C$100.00 to C$96.00 and set an outperform rating on the stock in a research note on Thursday, August 25th. Scotiabank lifted their price target on Royal Bank of Canada from C$85.00 to C$86.00 and gave the company an outperform rating in a research note on Thursday, August 25th. Finally, TD Securities reissued a hold rating and issued a C$81.00 price target on shares of Royal Bank of Canada in a research note on Monday, June 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Royal Bank of Canada currently has a consensus rating of Hold and an average target price of C$85.23.
Royal Bank of Canada (TSE:RY) traded up 0.24% during mid-day trading on Thursday, hitting $82.81. The stock had a trading volume of 1,019,255 shares. Royal Bank of Canada has a 52 week low of $64.52 and a 52 week high of $83.28. The company has a market capitalization of $122.87 billion and a P/E ratio of 12.07. The stock’s 50-day moving average is $81.34 and its 200 day moving average is $78.89.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 24th. Stockholders of record on Wednesday, October 26th will be issued a $0.83 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, October 24th. This represents a $3.32 annualized dividend and a dividend yield of 4.02%.
In other news, insider Janice Rose Fukakusa sold 62,960 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of C$81.08, for a total value of C$5,104,796.80.
About Royal Bank of Canada
Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets.
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