Royal Bank of Canada (TSE:RY) Price Target Raised to C$188.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target upped by Canaccord Genuity Group from C$172.00 to C$188.00 in a research report report published on Tuesday,BayStreet.CA reports.

RY has been the topic of several other research reports. CIBC lifted 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. National Bankshares boosted their price target on shares of Royal Bank of Canada from C$160.00 to C$169.00 in a research report on Thursday, August 29th. Bank of America boosted 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. Barclays boosted their price target on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research report on Tuesday, August 20th. Finally, Scotiabank reduced their price target on shares of Royal Bank of Canada from C$157.00 to C$154.00 in a research report on Monday, August 19th. Three 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, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average price target of C$168.00.

Royal Bank of Canada Trading Up 2.6 %

TSE RY opened at C$174.76 on Tuesday. Royal Bank of Canada has a 12 month low of C$115.57 and a 12 month high of C$175.04. The stock has a market cap of C$246.41 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 3.42 and a beta of 0.84. The company’s 50 day moving average is C$169.86 and its two-hundred day moving average is C$156.49.

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 EPS for the quarter, topping analysts’ consensus estimates of C$2.95 by C$0.31. The company had revenue of C$14.63 billion for the quarter, compared to analysts’ expectations of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. Sell-side analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 22nd will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.31%.

Insider Buying and Selling

In other Royal Bank of Canada news, Director David Ian Mckay sold 74,852 shares of the business’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. Also, Senior Officer Douglas Antony Guzman sold 15,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of C$165.00, for a total transaction of C$2,475,000.00. Following the completion of the transaction, the insider now owns 25 shares of the company’s stock, valued at C$4,125. This represents a 99.83 % decrease in their ownership of the stock. Insiders sold a total of 144,770 shares of company stock valued at $23,959,265 over the last three months.

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.