Royal Bank of Canada (TSE:RY) Receives C$176.58 Average Price Target from Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have earned a consensus rating of “Buy” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is C$176.58.

Several equities research analysts have issued reports on the stock. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$178.00 to C$180.00 in a research report on Friday, November 15th. BMO Capital Markets lowered their price target on Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. CIBC raised their price objective on Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday, November 26th. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Finally, National Bankshares raised their price target on Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th.

Royal Bank of Canada Trading Down 0.7 %

Shares of TSE:RY opened at C$173.06 on Thursday. Royal Bank of Canada has a 12 month low of C$127.60 and a 12 month high of C$180.45. The company has a market capitalization of C$244.01 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 3.42 and a beta of 0.84. The firm’s 50-day moving average is C$173.73 and its 200 day moving average is C$162.22.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. Royal Bank of Canada’s payout ratio is 50.31%.

Insider Activity at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of C$177.09, for a total value of C$272,363.80. Following the completion of the transaction, the insider now owns 25 shares of the company’s stock, valued at C$4,427.24. This trade represents a 98.40 % 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.