Brokerages Set Royal Bank of Canada (RY) PT at $99.27

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have received a consensus rating of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$99.27.

Several equities analysts recently issued reports on the stock. Eight Capital lifted their price target on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a report on Friday, August 25th. Barclays PLC lifted their price target on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday, August 25th. National Bank Financial cut their price target on shares of Royal Bank of Canada from C$101.00 to C$99.00 and set a “sector perform” rating for the company in a report on Thursday, August 24th. BMO Capital Markets reissued a “market perform” rating and set a C$100.00 price target on shares of Royal Bank of Canada in a report on Thursday, August 24th. Finally, Scotiabank downgraded shares of Royal Bank of Canada from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$102.00 to C$100.00 in a report on Monday, August 21st.

Royal Bank of Canada (TSE RY) traded up 0.22% during midday trading on Friday, reaching $98.33. 1,633,196 shares of the company traded hands. The firm has a market capitalization of $143.36 billion and a price-to-earnings ratio of 13.43. The firm’s 50 day moving average price is $93.57 and its 200 day moving average price is $94.18. Royal Bank of Canada has a 12 month low of $81.57 and a 12 month high of $99.90.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, October 26th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, October 25th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.87. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.70%.

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In other Royal Bank of Canada news, insider Alex Douglas Mcgregor sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of C$93.10, for a total value of C$931,000.00. Also, insider Jennifer Anne Tory sold 364 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of C$91.78, for a total transaction of C$33,407.92. Over the last ninety days, insiders sold 25,364 shares of company stock valued at $2,361,633.

Royal Bank of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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