Royal Bank of Canada (TSE:RY) Price Target Raised to C$197.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective boosted by Scotiabank from C$167.00 to C$197.00 in a research note released on Monday morning,BayStreet.CA reports.

A number of other brokerages also recently commented on RY. BMO Capital Markets lifted their target price on Royal Bank of Canada from C$165.00 to C$195.00 in a research note on Monday, November 18th. Canaccord Genuity Group boosted their price objective on Royal Bank of Canada from C$172.00 to C$188.00 in a research report on Tuesday, November 19th. Desjardins increased their target price on Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. CIBC boosted their price target on shares of Royal Bank of Canada from C$166.00 to C$167.00 in a report on Friday, September 6th. Finally, Cormark upped their price target on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a research report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$175.92.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at C$175.77 on Monday. Royal Bank of Canada has a 12 month low of C$115.57 and a 12 month high of C$175.77. The company has a fifty day moving average price of C$170.42 and a two-hundred day moving average price of C$157.50. The company has a market cap of C$247.84 billion, a PE ratio of 15.57, a P/E/G ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 EPS 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 analyst estimates of C$14.27 billion. Equities research analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 22nd were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.23%. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.31%.

Insider Activity

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 10,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.60, for a total transaction of C$1,646,000.00. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at C$4,115. The trade was a 99.75 % decrease in their ownership of the stock. Insiders sold 144,770 shares of company stock worth $23,959,265 over the last three months.

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.