Royal Bank of Canada (TSE:RY) declared a quarterly dividend on Wednesday, August 24th. Stockholders of record on Wednesday, October 26th will be paid a dividend of 0.83 per share on Thursday, November 24th. This represents a $3.32 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Monday, October 24th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.81.
Royal Bank of Canada (TSE:RY) opened at 83.53 on Wednesday. The company has a market capitalization of $123.94 billion and a P/E ratio of 12.17. Royal Bank of Canada has a 52 week low of $64.52 and a 52 week high of $83.70. The stock’s 50 day moving average price is $81.47 and its 200 day moving average price is $79.12.
In related news, insider Janice Rose Fukakusa sold 62,960 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of C$81.08, for a total transaction of C$5,104,796.80.
RY has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their price target on Royal Bank of Canada from C$71.00 to C$74.00 in a report on Thursday, August 18th. Dundee Securities reiterated a “neutral” rating and issued a C$87.00 price target on shares of Royal Bank of Canada in a report on Wednesday, September 21st. Scotiabank increased their price target on Royal Bank of Canada from C$85.00 to C$86.00 and gave the stock an “outperform” rating in a report on Thursday, August 25th. Desjardins reiterated a “buy” rating and issued a C$86.00 price target on shares of Royal Bank of Canada in a report on Thursday, August 25th. Finally, CIBC increased their price objective on Royal Bank of Canada from C$81.00 to C$82.00 in a research note on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Royal Bank of Canada currently has a consensus rating of “Hold” and a consensus price target of C$85.23.
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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