Royal Bank of Canada (TSE:RY) Price Target Raised to C$195.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price raised by BMO Capital Markets from C$165.00 to C$195.00 in a research note released on Monday morning,BayStreet.CA reports.

A number of other brokerages also recently weighed in on RY. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. CIBC boosted their price objective on shares of Royal Bank of Canada from C$166.00 to C$167.00 in a research report on Friday, September 6th. Jefferies Financial Group dropped their price objective on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Canaccord Genuity Group upped their target price on shares of Royal Bank of Canada from C$159.50 to C$172.00 in a research note on Thursday, August 29th. Finally, Bank of America increased their price target on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Royal Bank of Canada has an average rating of “Moderate Buy” and an average price target of C$168.00.

Royal Bank of Canada Trading Down 0.8 %

Shares of TSE:RY opened at C$170.30 on Monday. Royal Bank of Canada has a 1-year low of C$115.57 and a 1-year high of C$175.04. The stock has a market capitalization of C$240.12 billion, a P/E ratio of 15.08, a P/E/G ratio of 3.42 and a beta of 0.84. The business has a 50-day moving average price of C$169.69 and a two-hundred day moving average price of C$156.22.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, beating the consensus estimate of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. The business had revenue of C$14.63 billion during the quarter, compared to analysts’ expectations of C$14.27 billion. As a group, equities analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 22nd will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is currently 50.31%.

Insider Activity at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 17,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of C$167.95, for a total transaction of C$2,855,150.00. Following the completion of the transaction, the insider now owns 25 shares in the company, valued at approximately C$4,198.75. This represents a 99.85 % decrease in their position. Also, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. Insiders have sold 144,770 shares of company stock worth $23,959,265 in the last ninety days.

About Royal Bank of Canada

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.