Royal Bank of Canada (TSE:RY) Price Target Raised to C$321.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price lifted by National Bank Financial from C$318.00 to C$321.00 in a research note published on Sunday morning,BayStreet reports. National Bank Financial currently has an outperform rating on the financial services provider’s stock.

A number of other research analysts also recently commented on RY. TD lowered their target price on Royal Bank of Canada from C$307.00 to C$306.00 and set a “buy” rating for the company in a research report on Friday, August 28th. Canadian Imperial Bank of Commerce raised their target price on shares of Royal Bank of Canada from C$279.00 to C$311.00 and gave the company a “neutral” rating in a report on Wednesday, August 19th. Scotiabank boosted their price target on shares of Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, June 16th. Barclays upped their price target on shares of Royal Bank of Canada from C$260.00 to C$300.00 in a research note on Friday, August 21st. Finally, Keefe, Bruyette & Woods set a C$316.00 price objective on shares of Royal Bank of Canada and gave the company a “hold” rating in a research report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$293.43.

Royal Bank of Canada Trading Down 0.1%

TSE:RY opened at C$283.11 on Friday. The company has a market capitalization of C$391.95 billion, a P/E ratio of 17.85, a P/E/G ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a 12 month low of C$197.58 and a 12 month high of C$306.38. The business’s 50-day moving average is C$293.31 and its 200 day moving average is C$261.55.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Thursday, August 27th. The financial services provider reported C$4.28 earnings per share for the quarter. Royal Bank of Canada had a return on equity of 16.11% and a net margin of 15.92%.The business had revenue of C$18.54 billion during the quarter. On average, research analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 24th were paid a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, July 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.64. Royal Bank of Canada’s dividend payout ratio is 41.49%.

Insiders Place Their Bets

In other news, insider Katherine Gibson sold 462 shares of Royal Bank of Canada stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of C$279.97, for a total value of C$129,346.14. Following the completion of the transaction, the insider owned 290 shares in the company, valued at approximately C$81,191.30. The trade was a 61.44% decrease in their position. Also, insider Bruce Washington Ross sold 3,659 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of C$279.97, for a total value of C$1,024,410.23. Following the transaction, the insider directly owned 235 shares in the company, valued at approximately C$65,792.95. This represents a 93.97% decrease in their position. Over the last three months, insiders sold 352,767 shares of company stock worth $100,643,023.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.