Royal Bank of Canada (TSE:RY) (NYSE:RY) has earned a consensus rating of “Hold” from the fourteen research firms that are covering the firm. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is C$95.08.
Several analysts have recently commented on RY shares. Barclays PLC increased their price target on shares of Royal Bank of Canada from C$77.00 to C$84.00 in a research report on Monday, February 13th. Canaccord Genuity increased their price target on shares of Royal Bank of Canada from C$89.00 to C$95.00 in a research report on Tuesday, November 22nd. Keefe, Bruyette & Woods increased their price target on shares of Royal Bank of Canada from C$74.00 to C$83.00 in a research report on Thursday, December 1st. Dundee Securities increased their price target on shares of Royal Bank of Canada from C$87.00 to C$93.00 in a research report on Thursday, December 22nd. Finally, Desjardins increased their price target on shares of Royal Bank of Canada from C$92.00 to C$94.00 in a research report on Wednesday, December 21st.
Shares of Royal Bank of Canada (TSE:RY) opened at 96.29 on Thursday. The stock has a market cap of $142.05 billion and a price-to-earnings ratio of 13.44. Royal Bank of Canada has a 12 month low of $73.18 and a 12 month high of $99.90. The firm has a 50-day moving average price of $96.93 and a 200-day moving average price of $89.38.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Tuesday, April 25th will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 3.61%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.83.
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In related news, Director David Ian Mckay sold 3,578 shares of the firm’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of C$94.01, for a total transaction of C$336,367.78. Also, insider Alex Douglas Mcgregor sold 14,475 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of C$99.10, for a total transaction of C$1,434,472.50. In the last 90 days, insiders have sold 47,339 shares of company stock worth $4,631,289.
About Royal Bank of Canada
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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