Royal Bank of Canada (TSE:RY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) have received a consensus recommendation of “Buy” from the fourteen research firms that are presently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$143.27.

RY has been the subject of a number of research reports. CSFB reduced their price objective on Royal Bank of Canada from C$144.00 to C$143.00 in a research note on Thursday, August 25th. Credit Suisse Group reduced their price objective on Royal Bank of Canada to C$143.00 and set an “outperform” rating for the company in a research note on Thursday, August 25th. Keefe, Bruyette & Woods boosted their price objective on Royal Bank of Canada from C$118.00 to C$129.00 in a research note on Friday, September 2nd. TD Securities reduced their price objective on Royal Bank of Canada from C$150.00 to C$145.00 and set a “buy” rating for the company in a research note on Friday, May 27th. Finally, BMO Capital Markets cut their price target on Royal Bank of Canada from C$140.00 to C$132.00 in a research note on Friday, September 2nd.

Insider Buying and Selling

In other Royal Bank of Canada news, Director David Ian Mckay sold 4,078 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of C$124.42, for a total value of C$507,400.66. Following the sale, the director now owns 5,873 shares of the company’s stock, valued at C$730,741.56. In other news, Director David Ian Mckay sold 4,078 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of C$124.42, for a total value of C$507,400.66. Following the sale, the director now directly owns 5,873 shares in the company, valued at C$730,741.56. Also, Senior Officer Bruce Washington Ross sold 14,000 shares of the company’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of C$123.81, for a total value of C$1,733,404.40. Following the completion of the sale, the insider now owns 235 shares in the company, valued at C$29,096.43. Insiders have sold 26,234 shares of company stock valued at $3,269,541 over the last quarter.

Royal Bank of Canada Stock Down 0.5 %

RY stock opened at C$124.98 on Friday. The business has a 50 day moving average price of C$125.24 and a 200 day moving average price of C$129.61. The stock has a market cap of C$173.94 billion and a price-to-earnings ratio of 11.38. Royal Bank of Canada has a fifty-two week low of C$118.24 and a fifty-two week high of C$149.60.

Royal Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 24th. Investors of record on Wednesday, October 26th will be issued a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Tuesday, October 25th. Royal Bank of Canada’s dividend payout ratio is presently 43.35%.

About Royal Bank of Canada

(Get Rating)

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.

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Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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