Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by BMO Capital Markets from C$100.00 to C$102.00 in a research note issued to investors on Thursday, November 30th. They currently have a market perform rating on the financial services provider’s stock.
Several other equities research analysts have also commented on RY. Scotiabank lowered shares of Royal Bank of Canada from an outperform rating to a sector perform rating and decreased their target price for the stock from C$102.00 to C$100.00 in a research report on Monday, August 21st. National Bank Financial cut their target price on shares of Royal Bank of Canada from C$101.00 to C$99.00 and set a sector perform rating for the company in a research note on Thursday, August 24th. Eight Capital boosted their target price on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a research note on Friday, August 25th. Canaccord Genuity upped their price objective on shares of Royal Bank of Canada from C$100.00 to C$105.00 in a research note on Wednesday, November 1st. Finally, CIBC boosted their target price on Royal Bank of Canada from C$103.00 to C$113.00 in a report on Monday, November 13th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of C$106.31.
Royal Bank of Canada (TSE RY) opened at C$102.05 on Thursday. Royal Bank of Canada has a 1 year low of C$90.13 and a 1 year high of C$102.59.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, January 25th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, January 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 46.03%.
In other news, Director Thierry Vandal bought 729 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was acquired at an average price of C$91.91 per share, with a total value of C$67,002.39. Also, Director Jeffery William Yabuki bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were purchased at an average cost of C$79.63 per share, with a total value of C$79,630.00. Insiders have sold 32,731 shares of company stock worth $3,209,901 over the last three months.
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About Royal Bank of Canada
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.
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