Royal Bank of Canada (TSE:RY) Price Target Raised to C$149.00 at Scotiabank

Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) had its target price raised by Scotiabank from C$144.00 to C$149.00 in a research note issued to investors on Tuesday, BayStreet.CA reports.

Other research analysts have also recently issued research reports about the company. CIBC dropped their price target on Royal Bank of Canada from C$146.00 to C$140.00 in a report on Wednesday, September 7th. CSFB dropped their price target on Royal Bank of Canada from C$144.00 to C$143.00 in a report on Thursday, August 25th. Credit Suisse Group upped their price target on Royal Bank of Canada to C$150.00 in a report on Tuesday. Barclays lifted their price objective on shares of Royal Bank of Canada from C$137.00 to C$140.00 in a research report on Monday, November 14th. Finally, Canaccord Genuity Group lowered their price objective on shares of Royal Bank of Canada from C$131.50 to C$130.50 in a research report on Thursday, August 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of C$143.42.

Royal Bank of Canada Stock Performance

TSE RY opened at C$134.83 on Tuesday. The stock has a market capitalization of C$187.64 billion and a P/E ratio of 12.28. Royal Bank of Canada has a 1 year low of C$116.75 and a 1 year high of C$149.60. The business’s fifty day moving average is C$126.11 and its two-hundred day moving average is C$126.20.

Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 24th. The financial services provider reported C$2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.67 by C($0.12). The business had revenue of C$12.13 billion during the quarter. On average, research analysts forecast that Royal Bank of Canada will post 11.8399996 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Stockholders of record on Wednesday, October 26th will be issued a dividend of $1.28 per share. This represents a $5.12 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Tuesday, October 25th. Royal Bank of Canada’s dividend payout ratio is currently 43.35%.

Insider Activity

In other news, Director David Ian Mckay sold 4,078 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of C$132.33, for a total transaction of C$539,651.12. Following the transaction, the director now directly owns 5,873 shares in the company, valued at approximately C$777,187.60. Insiders have sold a total of 12,234 shares of company stock worth $1,559,529 in the last ninety days.

Royal Bank of Canada Company Profile

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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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