TD Securities Increases Royal Bank of Canada (TSE:RY) Price Target to C$178.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by TD Securities from C$171.00 to C$178.00 in a research report released on Thursday morning, BayStreet.CA reports.

A number of other research firms have also recently commented on RY. Jefferies Financial Group cut their price objective on Royal Bank of Canada from C$168.00 to C$165.00 and set a buy rating for the company in a research report on Monday, August 12th. BMO Capital Markets cut Royal Bank of Canada from a strong-buy rating to a hold rating in a research report on Friday, May 31st. CIBC boosted their price target on shares of Royal Bank of Canada from C$150.00 to C$155.00 and gave the stock a neutral rating in a research report on Tuesday, August 20th. Argus raised Royal Bank of Canada to a strong-buy rating in a report on Thursday, June 6th. Finally, Desjardins boosted their price objective on Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a buy rating in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of C$161.50.

Royal Bank of Canada Price Performance

TSE RY opened at C$160.75 on Thursday. Royal Bank of Canada has a 1 year low of C$107.92 and a 1 year high of C$162.73. The company has a market capitalization of C$228.27 billion, a PE ratio of 14.24, a P/E/G ratio of 10.64 and a beta of 0.85. The company has a fifty day moving average of C$150.62 and a 200 day moving average of C$142.27.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.37% and a return on equity of 13.38%. The firm had revenue of C$14.63 billion for the quarter, compared to the consensus estimate of C$14.27 billion. Research analysts expect that Royal Bank of Canada will post 12.8601286 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be issued a $1.42 dividend. The ex-dividend date is Thursday, October 24th. This represents a $5.68 annualized dividend and a yield of 3.53%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In related news, Senior Officer Neil Mclaughlin sold 14,778 shares of Royal Bank of Canada stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total value of C$2,161,474.61. In other Royal Bank of Canada news, Senior Officer Bruce Washington Ross sold 20,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the sale, the insider now owns 235 shares in the company, valued at approximately C$33,133.12. Also, Senior Officer Neil Mclaughlin sold 14,778 shares of Royal Bank of Canada stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. Insiders have sold a total of 101,302 shares of company stock valued at $14,592,565 over the last quarter.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.