Royal Bank of Canada (TSE:RY) Receives C$260.81 Consensus PT from Brokerages

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is C$260.81.

RY has been the topic of several research reports. TD lifted their price objective on Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Canaccord Genuity Group increased their target price on Royal Bank of Canada from C$280.00 to C$282.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Raymond James Financial raised their target price on Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a research note on Friday, May 29th. Scotiabank lifted their price target on Royal Bank of Canada from C$275.00 to C$280.00 and gave the company a “sector outperform” rating in a research report on Tuesday, June 16th. Finally, Canadian Imperial Bank of Commerce upped their price target on Royal Bank of Canada from C$258.00 to C$279.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th.

Royal Bank of Canada Trading Down 0.0%

Shares of TSE RY opened at C$290.38 on Monday. The firm has a fifty day simple moving average of C$266.16 and a two-hundred day simple moving average of C$243.47. Royal Bank of Canada has a 12 month low of C$175.50 and a 12 month high of C$296.91. The firm has a market capitalization of C$403.53 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share (EPS) for the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. The company had revenue of C$17.45 billion for the quarter. On average, sell-side analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 24th will be paid a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 2.4%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 41.35%.

Insider Transactions at Royal Bank of Canada

In other news, insider Bruce Washington Ross sold 45,670 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of C$293.11, for a total value of C$13,386,333.70. Following the completion of the transaction, the insider owned 235 shares of the company’s stock, valued at C$68,880.85. This represents a 99.49% decrease in their ownership of the stock. Also, insider Neil Mclaughlin sold 4,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$287.72, for a total transaction of C$1,150,880.00. Insiders sold a total of 353,645 shares of company stock valued at $98,785,630 in the last quarter.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.