Royal Bank of Canada (TSE:RY) has been assigned a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the stock. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$84.23.
A number of research firms recently weighed in on RY. Bank of America Corp. raised their price objective on Royal Bank of Canada from C$75.00 to C$76.00 and gave the company an “underperform” rating in a research report on Thursday, August 25th. CIBC raised their price objective on Royal Bank of Canada from C$84.00 to C$87.00 in a research report on Friday, September 2nd. TD Securities raised their price objective on Royal Bank of Canada from C$81.00 to C$86.00 and gave the company a “hold” rating in a research report on Thursday, August 25th. National Bank Financial raised their price objective on Royal Bank of Canada from C$83.00 to C$84.00 in a research report on Thursday, August 25th. Finally, Barclays PLC raised their price objective on Royal Bank of Canada from C$72.00 to C$74.00 and gave the company an “underweight” rating in a research report on Thursday, August 25th.
Shares of Royal Bank of Canada (TSE:RY) opened at 81.90 on Monday. The firm has a market capitalization of $121.52 billion and a price-to-earnings ratio of 11.93. Royal Bank of Canada has a 52 week low of $64.52 and a 52 week high of $83.00. The stock’s 50 day moving average price is $81.28 and its 200-day moving average price is $78.72.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Stockholders of record on Wednesday, October 26th will be paid a $0.83 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Monday, October 24th.
In other news, insider Janice Rose Fukakusa sold 62,960 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of C$81.08, for a total value of C$5,104,796.80.
Royal Bank of Canada Company Profile
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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