Royal Bank of Canada (TSE:RY) (NYSE:RY) has received an average rating of “Hold” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$110.80.
RY has been the subject of a number of analyst reports. CIBC upped their price objective on shares of Royal Bank of Canada from C$103.00 to C$113.00 in a research report on Monday, November 13th. BMO Capital Markets upped their price objective on shares of Royal Bank of Canada from C$100.00 to C$102.00 and gave the stock a “market perform” rating in a research report on Thursday, November 30th. Canaccord Genuity upped their price objective on shares of Royal Bank of Canada from C$105.00 to C$108.00 in a research report on Thursday, November 30th. CSFB upped their price objective on shares of Royal Bank of Canada from C$105.00 to C$108.00 and gave the stock an “outperform” rating in a research report on Thursday, November 30th. Finally, Desjardins upped their price objective on shares of Royal Bank of Canada from C$108.00 to C$109.00 in a research report on Thursday, November 30th.
Shares of Royal Bank of Canada (RY) opened at C$100.91 on Tuesday. Royal Bank of Canada has a 12-month low of C$90.13 and a 12-month high of C$108.52. The company has a market cap of $147,420.00, a price-to-earnings ratio of 13.51 and a beta of 0.73.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 24th. Stockholders of record on Wednesday, April 25th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Tuesday, April 24th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.91. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 47.66%.
In other news, insider Helena Gottschling sold 1,080 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of C$108.12, for a total value of C$116,769.60. Also, Director David Ian Mckay sold 10,282 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of C$102.37, for a total transaction of C$1,052,568.34. Insiders sold a total of 17,794 shares of company stock valued at $1,858,707 in the last quarter.
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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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