Royal Bank of Canada (TSE:RY) had its price objective upped by stock analysts at Canaccord Genuity from C$85.00 to C$89.00 in a research report issued on Thursday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price would indicate a potential upside of 7.74% from the stock’s current price.
A number of other equities analysts also recently issued reports on RY. National Bank Financial increased their price objective on shares of Royal Bank of Canada from C$83.00 to C$84.00 in a research note on Thursday, August 25th. Bank of America Corp. increased their price objective on shares of Royal Bank of Canada from C$75.00 to C$76.00 and gave the company an “underperform” rating in a research note on Thursday, August 25th. CSFB dropped their price objective on shares of Royal Bank of Canada from C$100.00 to C$96.00 and set an “outperform” rating on the stock in a research note on Thursday, August 25th. Scotiabank increased their price objective on shares of Royal Bank of Canada from C$85.00 to C$86.00 and gave the company an “outperform” rating in a research note on Thursday, August 25th. Finally, Desjardins reiterated a “buy” rating and set a C$86.00 price objective on shares of Royal Bank of Canada in a research note on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Royal Bank of Canada currently has an average rating of “Hold” and an average price target of C$85.23.
Shares of Royal Bank of Canada (TSE:RY) opened at 82.61 on Thursday. The firm’s 50-day moving average is $81.38 and its 200-day moving average is $78.94. The stock has a market capitalization of $122.57 billion and a price-to-earnings ratio of 12.04. Royal Bank of Canada has a 52 week low of $64.52 and a 52 week high of $83.28.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Shareholders of record on Wednesday, October 26th will be issued a $0.83 dividend. The ex-dividend date is Monday, October 24th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.02%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.81.
In other Royal Bank of Canada news, insider Janice Rose Fukakusa sold 62,960 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of C$81.08, for a total value of C$5,104,796.80.
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. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets.
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