Royal Bank of Canada (TSE:RY) Price Target Cut to C$189.00 by Analysts at Cormark

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price trimmed by Cormark from C$194.00 to C$189.00 in a report released on Friday,BayStreet.CA reports.

Other equities research analysts have also issued research reports about the company. Scotiabank cut their price target on Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. CIBC cut their price target on Royal Bank of Canada from C$176.00 to C$175.00 in a research note on Tuesday, February 18th. Jefferies Financial Group cut their price target on Royal Bank of Canada from C$197.00 to C$192.00 in a research note on Tuesday, February 18th. UBS Group cut their price target on Royal Bank of Canada from C$200.00 to C$192.00 in a research note on Friday, February 14th. Finally, TD Securities cut their price objective on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating for the company in a research report on Friday. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$181.83.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at C$170.98 on Friday. Royal Bank of Canada has a 52-week low of C$130.44 and a 52-week high of C$180.45. The firm has a market capitalization of C$241.94 billion, a PE ratio of 14.90, a PEG ratio of 3.42 and a beta of 0.84. The stock has a fifty day simple moving average of C$172.44 and a two-hundred day simple moving average of C$169.70.

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.46%. Royal Bank of Canada’s payout ratio is 49.49%.

Insider Activity at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 20,304 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of C$169.67, for a total value of C$3,444,896.43. Also, Senior Officer Douglas Antony Guzman sold 1,538 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total transaction of C$272,363.80. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,427.24. The trade was a 98.40 % decrease in their position. In the last quarter, insiders sold 42,762 shares of company stock valued at $7,379,177.

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.