Royal Bank of Canada (TSE:RY) Given New C$221.00 Price Target at Barclays

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target raised by Barclays from C$203.00 to C$221.00 in a research note released on Monday morning,BayStreet.CA reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other research firms have also recently weighed in on RY. Scotiabank lifted their price target on Royal Bank of Canada from C$210.00 to C$218.00 in a report on Friday, October 10th. CIBC lifted their target price on Royal Bank of Canada from C$208.00 to C$220.00 in a research note on Wednesday, November 19th. National Bankshares raised Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$203.00 to C$231.00 in a research note on Monday, November 17th. Canaccord Genuity Group raised 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 report on Thursday, August 28th. Finally, BMO Capital Markets upped their price objective on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$211.62.

Royal Bank of Canada Stock Up 0.0%

Shares of TSE:RY opened at C$211.39 on Monday. The company’s 50-day moving average price is C$205.31 and its 200 day moving average price is C$190.31. The company has a market cap of C$298.12 billion, a PE ratio of 15.99, a P/E/G ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a fifty-two week low of C$151.25 and a fifty-two week high of C$212.87.

Royal Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 24th were issued a $1.54 dividend. The ex-dividend date was Monday, October 27th. This represents a $6.16 annualized dividend and a dividend yield of 2.9%. Royal Bank of Canada’s dividend payout ratio is 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.