Royal Bank of Canada (TSE:RY) Price Target Lowered to C$165.00 at Jefferies Financial Group

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price cut by Jefferies Financial Group from C$168.00 to C$165.00 in a research note released on Monday, BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

RY has been the subject of several other research reports. BMO Capital Markets lowered shares of Royal Bank of Canada from a strong-buy rating to a hold rating in a report on Friday, May 31st. CIBC boosted their price objective on shares of Royal Bank of Canada from C$135.00 to C$150.00 and gave the stock a neutral rating in a research note on Friday, May 31st. Scotiabank upped their target price on Royal Bank of Canada from C$148.00 to C$153.00 and gave the stock an outperform rating in a report on Friday, May 31st. TD Securities lifted their price target on Royal Bank of Canada from C$160.00 to C$171.00 in a report on Thursday, August 8th. Finally, Argus raised Royal Bank of Canada to a strong-buy rating in a research report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of C$146.59.

Royal Bank of Canada Stock Up 0.4 %

RY opened at C$152.04 on Monday. The stock’s fifty day moving average is C$148.58 and its two-hundred day moving average is C$140.70. The company has a market capitalization of C$214.38 billion, a P/E ratio of 14.20, a PEG ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a 52 week low of C$107.92 and a 52 week high of C$155.22.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Thursday, May 30th. The financial services provider reported C$2.92 EPS for the quarter, beating the consensus estimate of C$2.77 by C$0.15. The firm had revenue of C$14.15 billion for the quarter, compared to analyst estimates of C$13.58 billion. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. Equities analysts anticipate that Royal Bank of Canada will post 11.1525292 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be issued a dividend of $1.42 per share. The ex-dividend date is Thursday, July 25th. This represents a $5.68 annualized dividend and a dividend yield of 3.74%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.38. Royal Bank of Canada’s dividend payout ratio is 51.54%.

Insider Buying and Selling

In other news, Senior Officer Bruce Washington Ross sold 20,000 shares of Royal Bank of Canada stock in a transaction on Friday, June 21st. The shares were sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the completion of the sale, the insider now directly owns 235 shares in the company, valued at C$33,133.12. In related news, Senior Officer Neil Mclaughlin sold 14,778 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of C$146.26, for a total value of C$2,161,474.61. Also, Senior Officer Bruce Washington Ross sold 20,000 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the completion of the transaction, the insider now owns 235 shares in the company, valued at approximately C$33,133.12. Insiders sold 101,302 shares of company stock worth $14,592,565 in 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.