Royal Bank of Canada (TSE:RY) Declares $1.48 Quarterly Dividend

Royal Bank of Canada (TSE:RY) (NYSE:RY) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Shareholders of record on Thursday, April 24th will be paid a dividend of 1.48 per share by the financial services provider on Friday, May 23rd. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.56%.

Royal Bank of Canada Stock Down 2.9 %

Shares of TSE RY opened at C$166.52 on Friday. The stock has a market capitalization of C$235.63 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The firm has a 50-day simple moving average of C$172.49 and a 200-day simple moving average of C$169.54. Royal Bank of Canada has a 52 week low of C$130.44 and a 52 week high of C$180.45.

Insider Transactions at Royal Bank of Canada

In related 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 firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$169.67, for a total value of C$52,257.10. Over the last ninety days, insiders sold 42,762 shares of company stock valued at $7,379,177.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RY. Jefferies Financial Group cut their target price on Royal Bank of Canada from C$197.00 to C$192.00 in a research note on Tuesday, February 18th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$178.00 to C$180.00 in a research report on Friday, November 15th. National Bankshares boosted their target price on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. BMO Capital Markets cut their price target on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. Finally, Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$180.50.

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.