National Bankshares Reiterates “C$203.00” Price Target for Royal Bank of Canada (TSE:RY)

National Bankshares set a C$203.00 price target on Royal Bank of Canada (TSE:RY) (NYSE:RY) in a report released on Monday,BayStreet.CA reports. The brokerage currently has a sector perform rating on the financial services provider’s stock.

Several other research analysts also recently commented on the stock. Jefferies Financial Group raised their price target on shares of Royal Bank of Canada from C$198.00 to C$207.00 in a report on Wednesday, August 13th. Scotiabank raised their price target on shares of Royal Bank of Canada from C$186.00 to C$210.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. BMO Capital Markets raised their price target on shares of Royal Bank of Canada from C$190.00 to C$203.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. CIBC downgraded shares of Royal Bank of Canada from an “outperform” rating to a “neutral” rating and set a C$208.00 price target for the company. in a report on Friday, September 5th. Finally, Canaccord Genuity Group raised their price target on shares of Royal Bank of Canada from C$201.00 to C$219.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of C$206.00.

Royal Bank of Canada Price Performance

Shares of TSE:RY opened at C$204.77 on Monday. The firm has a fifty day moving average price of C$191.06 and a two-hundred day moving average price of C$176.76. Royal Bank of Canada has a one year low of C$151.25 and a one year high of C$206.90. The company has a market cap of C$288.79 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 3.42 and a beta of 1.17.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 22nd were given a dividend of $1.54 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, July 24th. This represents a $6.16 annualized dividend and a dividend yield of 3.0%. Royal Bank of Canada’s dividend payout ratio is 44.78%.

Insider Activity

In related news, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of C$182.30, for a total value of C$56,148.92. Also, Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total transaction of C$3,701,453.72. In the last quarter, insiders have sold 21,013 shares of company stock worth $3,830,706.

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.