Royal Bank of Canada (TSE:RY) Given New C$196.00 Price Target at UBS Group

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lowered by UBS Group from C$198.00 to C$196.00 in a research note released on Tuesday,BayStreet.CA reports.

Several other equities research analysts have also weighed in on RY. CIBC raised Royal Bank of Canada from a “neutral” rating to an “outperform” rating and raised their target price for the stock from C$167.00 to C$168.00 in a research report on Friday, April 4th. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Scotiabank cut their target price on Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. National Bankshares cut their target price on Royal Bank of Canada from C$190.00 to C$179.00 and set an “outperform” rating on the stock in a research report on Monday, April 7th. Finally, TD Securities cut their target price on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada currently has an average rating of “Buy” and an average target price of C$179.83.

Royal Bank of Canada Price Performance

RY stock opened at C$169.78 on Tuesday. Royal Bank of Canada has a 1 year low of C$140.53 and a 1 year high of C$180.45. The firm has a market capitalization of C$240.24 billion, a P/E ratio of 14.79, a P/E/G ratio of 3.42 and a beta of 0.84. The business’s 50-day moving average is C$162.42 and its two-hundred day moving average is C$169.15.

Royal Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 23rd will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $5.92 annualized dividend and a dividend yield of 3.49%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.49%.

Insider Buying and Selling at Royal Bank of Canada

In related news, Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of C$160.27, for a total value of C$3,254,042.89. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of C$161.89, for a total value of C$49,862.12. In the last ninety days, insiders have sold 61,929 shares of company stock worth $10,152,340.

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.