Royal Bank of Canada (TSE:RY) Director David Ian Mckay Sells 74,852 Shares

Royal Bank of Canada (TSE:RY) (NYSE:RY) Director David Ian Mckay sold 74,852 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24.

Royal Bank of Canada Stock Performance

TSE RY opened at C$164.10 on Friday. The firm’s 50 day moving average price is C$152.93 and its 200-day moving average price is C$143.53. Royal Bank of Canada has a 52-week low of C$107.92 and a 52-week high of C$166.00. The company has a market cap of C$233.02 billion, a PE ratio of 14.53, a P/E/G ratio of 10.64 and a beta of 0.85.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.37% and a return on equity of 13.38%. The firm had revenue of C$14.63 billion for the quarter, compared to the consensus estimate of C$14.27 billion. On average, analysts forecast that Royal Bank of Canada will post 12.8601286 earnings per share for the current fiscal year.

Royal Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.46%. Royal Bank of Canada’s dividend payout ratio is presently 50.31%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group set a C$165.00 price objective on shares of Royal Bank of Canada and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. CIBC increased their price objective on shares of Royal Bank of Canada from C$155.00 to C$166.00 in a research report on Thursday, August 29th. Argus raised shares of Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, June 6th. Barclays raised their target price on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research report on Tuesday, August 20th. Finally, Cormark raised their target price on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a research report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Buy” and an average price target of C$161.50.

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.