Royal Bank of Canada (TSE:RY) Price Target Raised to C$159.00 at Jefferies Financial Group

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price hoisted by Jefferies Financial Group from C$157.00 to C$159.00 in a report issued on Friday morning, BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Scotiabank lifted their price objective on Royal Bank of Canada from C$143.00 to C$148.00 and gave the company an outperform rating in a report on Friday, May 17th. BMO Capital Markets raised Royal Bank of Canada from a market perform rating to an outperform rating and lifted their price objective for the company from C$140.00 to C$150.00 in a report on Friday, April 5th. Canaccord Genuity Group lifted their price objective on Royal Bank of Canada from C$142.00 to C$146.00 and gave the company a buy rating in a report on Thursday, February 29th. TD Securities lifted their price objective on Royal Bank of Canada from C$156.00 to C$160.00 and gave the company a buy rating in a report on Friday. Finally, CIBC lifted their price objective on Royal Bank of Canada from C$135.00 to C$150.00 and gave the company a neutral rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of Moderate Buy and a consensus target price of C$143.38.

Royal Bank of Canada Stock Up 0.5 %

TSE RY opened at C$148.98 on Friday. Royal Bank of Canada has a 52-week low of C$107.92 and a 52-week high of C$149.22. The business’s 50-day moving average price is C$138.74 and its 200 day moving average price is C$133.42. The firm has a market cap of C$210.06 billion, a P/E ratio of 13.91, a P/E/G ratio of 10.64 and a beta of 0.83.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be given a dividend of $1.42 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.38. This represents a $5.68 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Thursday, July 25th. Royal Bank of Canada’s payout ratio is currently 51.54%.

About Royal Bank of Canada

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.