Royal Bank of Canada (TSE:RY) Stock Price Expected to Rise, National Bankshares Analyst Says

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lifted by National Bankshares from C$180.00 to C$203.00 in a research note released on Thursday morning,BayStreet.CA reports. They currently have a sector perform rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. Barclays boosted their price target on Royal Bank of Canada from C$182.00 to C$190.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. CIBC boosted their price target on Royal Bank of Canada from C$195.00 to C$208.00 and gave the stock an “outperform” rating in a research report on Thursday. Jefferies Financial Group boosted their price target on Royal Bank of Canada from C$198.00 to C$207.00 in a research report on Wednesday, August 13th. National Bank Financial cut Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 29th. Finally, UBS Group reduced their price target on Royal Bank of Canada from C$198.00 to C$196.00 in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of C$206.00.

Royal Bank of Canada Price Performance

Shares of TSE:RY opened at C$199.58 on Thursday. Royal Bank of Canada has a fifty-two week low of C$151.25 and a fifty-two week high of C$204.60. The business has a 50-day moving average of C$183.02 and a two-hundred day moving average of C$172.71. The stock has a market capitalization of C$281.46 billion, a P/E ratio of 15.10, a P/E/G ratio of 3.42 and a beta of 1.12.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 22nd were given a dividend of $1.54 per share. The ex-dividend date of this dividend was Thursday, July 24th. This represents a $6.16 annualized dividend and a dividend yield of 3.1%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.48. Royal Bank of Canada’s payout ratio is presently 44.78%.

Insider Buying and Selling

In other Royal Bank of Canada news, Senior Officer Jennifer Kristine Publicover sold 401 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total value of C$73,102.98. Following the completion of the transaction, the insider owned 152 shares of the company’s stock, valued at C$27,709.86. This represents a 72.51% decrease in their position. Also, Director David Ian Mckay sold 20,304 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of C$182.30, for a total value of C$3,701,453.72. In the last 90 days, insiders sold 42,026 shares of company stock valued at $7,517,844.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.