Royal Bank of Canada (TSE:RY) Receives C$176.58 Consensus PT from Brokerages

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given a consensus rating of “Buy” by the eleven analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$176.58.

Several equities analysts recently weighed in on RY shares. Canaccord Genuity Group boosted their price objective on Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. CIBC upped their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday, November 26th. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$178.00 to C$180.00 in a research note on Friday, November 15th. Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Finally, BMO Capital Markets decreased their price target on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at C$174.36 on Thursday. The firm has a market cap of C$245.85 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 3.42 and a beta of 0.84. The firm has a fifty day moving average price of C$173.73 and a two-hundred day moving average price of C$162.22. Royal Bank of Canada has a fifty-two week low of C$127.60 and a fifty-two week high of C$180.45.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 3.40%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.42. Royal Bank of Canada’s dividend payout ratio is 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of C$166.96, for a total value of C$1,252,207.50. Following the sale, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,174.03. This represents a 99.67 % decrease in their position.

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.