Barclays Increases Royal Bank of Canada (TSE:RY) Price Target to C$182.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lifted by Barclays from C$180.00 to C$182.00 in a research note issued to investors on Monday,BayStreet.CA reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on RY. Cormark cut their price objective on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. UBS Group cut their price objective on shares of Royal Bank of Canada from C$198.00 to C$196.00 in a research report on Thursday, May 22nd. National Bankshares set a C$179.00 price objective on shares of Royal Bank of Canada and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. CIBC upped their price objective on shares of Royal Bank of Canada from C$182.00 to C$183.00 and gave the stock an “outperform” rating in a research report on Thursday, June 5th. Finally, Cibc World Mkts raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$183.75.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at C$174.72 on Monday. The firm has a 50-day moving average of C$167.75 and a 200-day moving average of C$169.64. The stock has a market cap of C$247.23 billion, a PE ratio of 15.22, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52-week low of C$140.53 and a 52-week high of C$180.45.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 3.53%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.48. Royal Bank of Canada’s dividend payout ratio is 49.49%.

Insider Transactions at Royal Bank of Canada

In other news, Senior Officer Jennifer Kristine Publicover sold 401 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of C$174.06, for a total value of C$69,798.94. Following the completion of the transaction, the insider now owns 152 shares of the company’s stock, valued at C$26,457.45. This represents a 72.51% decrease in their ownership of the stock. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of C$174.06, for a total value of C$53,611.16. Over the last 90 days, insiders sold 62,330 shares of company stock valued at $10,312,755.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.