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

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given an average recommendation of “Moderate Buy” by the eleven research firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$206.00.

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group lifted their price target on Royal Bank of Canada from C$201.00 to C$219.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. TD Securities raised their target price on Royal Bank of Canada from C$191.00 to C$208.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. BMO Capital Markets lifted their target price on Royal Bank of Canada from C$190.00 to C$203.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Erste Group Bank raised shares of Royal Bank of Canada to a “strong-buy” rating in a report on Monday, September 22nd. Finally, Jefferies Financial Group lifted their price objective on shares of Royal Bank of Canada from C$198.00 to C$207.00 in a research note on Wednesday, August 13th.

Insider Activity

In other news, Senior Officer Jennifer Kristine Publicover sold 401 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total transaction of C$73,102.98. Following the completion of the sale, the insider directly owned 152 shares of the company’s stock, valued at C$27,709.86. This trade represents a 72.51% decrease in their position. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total value of C$56,148.92. In the last 90 days, insiders sold 21,013 shares of company stock worth $3,830,706.

Royal Bank of Canada Trading Down 0.1%

Shares of TSE:RY opened at C$203.63 on Friday. The company has a 50 day moving average of C$191.91 and a 200-day moving average of C$177.35. The firm has a market cap of C$287.18 billion, a P/E ratio of 15.40, a P/E/G ratio of 3.42 and a beta of 1.17. Royal Bank of Canada has a twelve month low of C$151.25 and a twelve month high of C$206.90.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 22nd were issued a $1.54 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.48. This represents a $6.16 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, July 24th. Royal Bank of Canada’s dividend payout ratio is currently 44.78%.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.