Royal Bank of Canada (TSE:RY) Price Target Raised to C$171.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price increased by Cormark from C$166.00 to C$171.00 in a report issued on Thursday, BayStreet.CA reports.

Several other analysts have also commented on the stock. BMO Capital Markets lowered shares of Royal Bank of Canada from a strong-buy rating to a hold rating in a research note on Friday, May 31st. Barclays increased their price objective on Royal Bank of Canada from C$145.00 to C$150.00 in a research report on Tuesday, August 20th. Argus raised Royal Bank of Canada to a strong-buy rating in a research note on Thursday, June 6th. TD Securities boosted their target price on Royal Bank of Canada from C$171.00 to C$178.00 in a research report on Thursday. Finally, National Bankshares increased their price target on Royal Bank of Canada from C$160.00 to C$169.00 in a research report on Thursday. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada has an average rating of Buy and an average price target of C$161.50.

Royal Bank of Canada Stock Performance

RY opened at C$162.98 on Thursday. The company has a market capitalization of C$231.43 billion, a PE ratio of 14.44, a P/E/G ratio of 10.64 and a beta of 0.85. The stock’s fifty day moving average is C$151.42 and its 200-day moving average is C$142.61. Royal Bank of Canada has a one year low of C$107.92 and a one year high of C$163.06.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, topping the consensus estimate of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.37% and a return on equity of 13.38%. The firm had revenue of C$14.63 billion for the quarter, compared to analysts’ expectations of C$14.27 billion. On average, equities research analysts forecast that Royal Bank of Canada will post 12.8601286 EPS for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $5.68 annualized dividend and a yield of 3.49%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.31%.

Insider Transactions at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Neil Mclaughlin sold 14,778 shares of Royal Bank of Canada stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. In other news, Senior Officer Douglas Antony Guzman sold 54,354 shares of Royal Bank of Canada stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of C$145.15, for a total transaction of C$7,889,646.16. Following the completion of the sale, the insider now directly owns 25 shares in the company, valued at approximately C$3,628.83. Also, Senior Officer Neil Mclaughlin sold 14,778 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of C$146.26, for a total value of C$2,161,474.61. Insiders sold 101,302 shares of company stock valued at $14,592,565 over the last three months.

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.