Royal Bank of Canada (TSE:RY) Given Consensus Rating of “Buy” by Brokerages

Royal Bank of Canada (TSE:RY) (NYSE:RY) has earned an average recommendation of “Buy” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$176.58.

RY has been the topic of a number of recent research reports. Scotiabank lifted their target price on Royal Bank of Canada from C$167.00 to C$197.00 in a research report on Monday, November 25th. National Bankshares raised their price objective on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. CIBC increased their price target on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. Canaccord Genuity Group lifted their price objective on Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. Finally, BMO Capital Markets cut their target price on 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

TSE:RY opened at C$175.96 on Monday. The company has a fifty day moving average price of C$174.33 and a 200 day moving average price of C$165.96. Royal Bank of Canada has a one year low of C$127.60 and a one year high of C$180.45. The stock has a market cap of C$248.10 billion, a P/E ratio of 15.59, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 24th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.42. Royal Bank of Canada’s dividend payout ratio is presently 50.31%.

Insider Activity at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 20,304 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$3,555,721.76. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$53,938.25. Insiders sold 22,150 shares of company stock valued at $3,882,024 over the last ninety days.

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.