Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target upped by National Bank Financial from C$107.00 to C$109.00 in a research note published on Monday. They currently have a sector perform rating on the financial services provider’s stock.
A number of other research firms have also commented on RY. Canaccord Genuity lifted their price objective on shares of Royal Bank of Canada from C$105.00 to C$108.00 in a research note on Thursday, November 30th. CIBC lowered shares of Royal Bank of Canada from an outperform rating to a neutral rating and lifted their price objective for the company from C$113.00 to C$114.00 in a research note on Thursday, February 1st. Citigroup lifted their price objective on shares of Royal Bank of Canada from C$118.00 to C$120.00 in a research note on Tuesday, December 12th. Eight Capital upgraded shares of Royal Bank of Canada from a neutral rating to a buy rating and lifted their price objective for the company from C$107.00 to C$113.00 in a research note on Monday, December 11th. Finally, Barclays lifted their price objective on shares of Royal Bank of Canada from C$100.00 to C$103.00 in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Royal Bank of Canada has a consensus rating of Hold and a consensus price target of C$110.80.
Royal Bank of Canada (RY) opened at C$100.57 on Monday. The company has a market cap of $146,920.00, a price-to-earnings ratio of 13.46 and a beta of 0.71. Royal Bank of Canada has a one year low of C$90.13 and a one year high of C$108.52.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 24th. Stockholders of record on Wednesday, April 25th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.74%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.91. The ex-dividend date is Tuesday, April 24th. Royal Bank of Canada’s payout ratio is 47.66%.
In other news, insider Alex Douglas Mcgregor sold 7,403 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of C$101.73, for a total transaction of C$753,107.19. Also, Director Jeffery William Yabuki purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were purchased at an average price of C$79.63 per share, for a total transaction of C$79,630.00. Over the last quarter, insiders have sold 25,197 shares of company stock worth $2,611,814.
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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. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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