Royal Bank of Canada (RY) Price Target Raised to C$102.00 at BMO Capital Markets

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price lifted by BMO Capital Markets from C$100.00 to C$102.00 in a research note issued to investors on Thursday morning. The firm currently has a market perform rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on the stock. Barclays increased their target price on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a research report on Friday, August 25th. CIBC increased their target price on shares of Royal Bank of Canada from C$103.00 to C$113.00 in a research report on Monday, November 13th. Canaccord Genuity increased their target price on shares of Royal Bank of Canada from C$100.00 to C$105.00 in a research report on Wednesday, November 1st. Eight Capital increased their target price on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a research report on Friday, August 25th. Finally, National Bank Financial decreased their target price on shares of Royal Bank of Canada from C$101.00 to C$99.00 and set a sector perform rating on the stock in a research report on Thursday, August 24th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Royal Bank of Canada currently has an average rating of Hold and a consensus price target of C$104.67.

Royal Bank of Canada (TSE RY) opened at C$101.16 on Thursday. Royal Bank of Canada has a 52-week low of C$87.15 and a 52-week high of C$102.15.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $3.64 annualized dividend and a dividend yield of 3.60%. Royal Bank of Canada’s dividend payout ratio is 47.54%.

In other Royal Bank of Canada news, insider Alex Douglas Mcgregor sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of C$93.10, for a total value of C$931,000.00. Also, Director Thierry Vandal bought 729 shares of the business’s stock in a transaction on Friday, September 15th. The stock was bought at an average price of C$91.91 per share, for a total transaction of C$67,002.39. Insiders have sold a total of 25,328 shares of company stock worth $2,456,793 in the last quarter.

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Royal Bank of Canada Company Profile

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services, and Capital Markets. The Personal & Commercial Banking segment engages in the personal and business banking operations, auto financing, and retail investment businesses.

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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