Royal Bank of Canada (TSE:RY) Given Average Rating of “Moderate Buy” by Brokerages

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$249.27.

A number of research firms have issued reports on RY. Jefferies Financial Group increased their price target on Royal Bank of Canada from C$217.00 to C$220.00 in a report on Wednesday, February 11th. National Bank Financial increased their price target on Royal Bank of Canada from C$241.00 to C$247.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Raymond James Financial cut Royal Bank of Canada from a “moderate buy” rating to a “hold” rating and increased their price target for the stock from C$248.00 to C$265.50 in a report on Tuesday. Scotiabank increased their price target on Royal Bank of Canada from C$247.00 to C$252.00 and gave the stock a “sector outperform” rating in a report on Monday, May 4th. Finally, Canaccord Genuity Group upped their target price on Royal Bank of Canada from C$242.00 to C$255.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th.

Insider Activity at Royal Bank of Canada

In other news, insider Jennifer Kristine Publicover sold 439 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total transaction of C$106,597.98. Following the transaction, the insider directly owned 152 shares of the company’s stock, valued at C$36,908.64. This represents a 74.28% decrease in their ownership of the stock. Also, insider Bruce Washington Ross sold 3,657 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total value of C$887,992.74. Following the transaction, the insider directly owned 235 shares in the company, valued at C$57,062.70. The trade was a 93.96% decrease in their ownership of the stock. Insiders sold 29,110 shares of company stock valued at $7,068,490 over the last three months.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at C$252.43 on Friday. The stock has a market capitalization of C$351.01 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 3.42 and a beta of 1.14. Royal Bank of Canada has a 52-week low of C$171.29 and a 52-week high of C$252.43. The stock’s 50 day moving average price is C$233.43 and its two-hundred day moving average price is C$228.03.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. The firm had revenue of C$17.96 billion for the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%. On average, equities research analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank of Canada’s dividend payout ratio is presently 42.58%.

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.