Royal Bank of Canada (TSE:RY) Director David Ian Mckay Sells 4,077 Shares of Stock

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) Director David Ian Mckay sold 4,077 shares of the firm’s stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of C$126.38, for a total value of C$515,251.26. Following the sale, the director now directly owns 5,873 shares in the company, valued at approximately C$742,229.74.

David Ian Mckay also recently made the following trade(s):

• On Friday, May 20th, David Ian Mckay sold 4,077 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$127.00, for a total value of C$517,795.31.
• On Friday, April 22nd, David Ian Mckay sold 4,077 shares of Royal Bank of Canada stock. The shares were sold at an average price of C$135.27, for a total value of C$551,490.90.

Royal Bank of Canada stock opened at C$126.38 on Wednesday. The stock has a 50-day moving average price of C$130.24 and a 200 day moving average price of C$136.19. The company has a market capitalization of C$177.20 billion and a price-to-earnings ratio of 11.05. Royal Bank of Canada has a 52 week low of C$123.30 and a 52 week high of C$149.60.

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) last posted its quarterly earnings data on Thursday, May 26th. The financial services provider reported C$2.99 EPS for the quarter, beating analysts’ consensus estimates of C$2.67 by C$0.32. The business had revenue of C$11.22 billion during the quarter. On average, analysts expect that Royal Bank of Canada will post 12.0076448 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Tuesday, July 26th will be paid a dividend of $1.28 per share. The ex-dividend date is Monday, July 25th. This represents a $5.12 dividend on an annualized basis and a yield of 4.05%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.20. Royal Bank of Canada’s payout ratio is 39.86%.

A number of brokerages recently weighed in on RY. Scotiabank dropped their price objective on Royal Bank of Canada from C$150.00 to C$147.00 in a research report on Friday, May 20th. Fundamental Research reissued a “buy” rating and issued a C$142.00 price target on shares of Royal Bank of Canada in a report on Wednesday, June 8th. Canaccord Genuity Group raised their price target on Royal Bank of Canada from C$131.50 to C$134.00 in a report on Friday, May 27th. CIBC lowered their price target on Royal Bank of Canada from C$149.00 to C$146.00 in a report on Tuesday, May 17th. Finally, CSFB set a C$153.00 price target on Royal Bank of Canada and gave the stock an “outperform” rating in a report on Friday, May 20th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$146.86.

About Royal Bank of Canada (Get Rating)

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

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