A number of other analysts also recently issued reports on the stock. Canaccord Genuity raised their price objective on shares of Royal Bank of Canada from C$107.00 to C$109.00 in a report on Monday. CIBC downgraded shares of Royal Bank of Canada from an outperform rating to a neutral rating and raised their price objective for the stock from C$113.00 to C$114.00 in a report on Thursday, February 1st. CSFB raised their price objective on shares of Royal Bank of Canada from C$108.00 to C$114.00 in a report on Friday, January 19th. National Bank Financial raised their price objective on shares of Royal Bank of Canada from C$105.00 to C$107.00 and gave the stock a sector perform rating in a report on Friday, January 12th. Finally, Citigroup raised their price objective on shares of Royal Bank of Canada from C$118.00 to C$120.00 in a report on Tuesday, December 12th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Royal Bank of Canada currently has an average rating of Hold and a consensus target price of C$109.33.
Royal Bank of Canada (RY) opened at C$102.39 on Monday. Royal Bank of Canada has a 12-month low of C$90.13 and a 12-month high of C$108.52. The firm has a market cap of $149,560.00, a PE ratio of 13.71 and a beta of 0.71.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 24th. Stockholders of record on Wednesday, April 25th will be paid a $0.94 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Tuesday, April 24th. This represents a $3.76 annualized dividend and a dividend yield of 3.67%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 47.66%.
In related news, Director Jeffery William Yabuki bought 1,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was acquired at an average cost of C$79.63 per share, for a total transaction of C$79,630.00. Also, Director David Ian Mckay sold 5,352 shares of Royal Bank of Canada stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of C$108.12, for a total transaction of C$578,658.24. Insiders sold 25,197 shares of company stock valued at $2,611,814 in the last quarter.
Royal Bank of Canada Company Profile
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. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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