Royal Bank of Canada (TSE:RY) Given New C$154.00 Price Target at Scotiabank

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective trimmed by Scotiabank from C$157.00 to C$154.00 in a report released on Monday, BayStreet.CA reports.

Several other equities analysts have also recently weighed in on RY. UBS Group set a C$165.00 price target on Royal Bank of Canada and gave the company a buy rating in a report on Tuesday, July 2nd. TD Securities raised their target price on Royal Bank of Canada from C$160.00 to C$171.00 in a research report on Thursday, August 8th. National Bankshares cut their price target on Royal Bank of Canada from C$161.00 to C$160.00 and set an outperform rating for the company in a research note on Friday, August 16th. Argus upgraded shares of Royal Bank of Canada to a strong-buy rating in a research note on Thursday, June 6th. Finally, Jefferies Financial Group dropped their price objective on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a buy rating on the stock in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of C$148.29.

Royal Bank of Canada Price Performance

Shares of TSE:RY opened at C$153.56 on Monday. Royal Bank of Canada has a 1 year low of C$107.92 and a 1 year high of C$155.22. The stock’s fifty day moving average price is C$149.21 and its 200-day moving average price is C$141.36. The company has a market cap of C$218.06 billion, a P/E ratio of 14.06, a PEG ratio of 10.64 and a beta of 0.85.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Thursday, May 30th. The financial services provider reported C$2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.77 by C$0.15. The firm had revenue of C$14.15 billion for the quarter, compared to the consensus estimate of C$13.58 billion. Royal Bank of Canada had a net margin of 28.37% and a return on equity of 13.38%. On average, sell-side analysts anticipate that Royal Bank of Canada will post 12.588332 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, July 25th. This represents a $5.68 annualized dividend and a dividend yield of 3.70%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.38. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 52.01%.

Insider Buying and Selling

In other Royal Bank of Canada news, Senior Officer Bruce Washington Ross sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of C$140.99, for a total value of C$2,819,840.00. Following the completion of the transaction, the insider now directly owns 235 shares in the company, valued at approximately C$33,133.12. In other news, Senior Officer Neil Mclaughlin sold 14,778 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. Also, Senior Officer Bruce Washington Ross sold 20,000 shares of Royal Bank of Canada stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$140.99, for a total value of C$2,819,840.00. Following the completion of the sale, the insider now directly owns 235 shares in the company, valued at C$33,133.12. In the last three months, insiders have sold 101,302 shares of company stock valued at $14,592,565.

Royal Bank of Canada Company Profile

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.