Royal Bank of Canada (TSE:RY) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) to a moderate buy rating in a research report report published on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Desjardins lifted their target price on shares of Royal Bank of Canada from C$193.00 to C$214.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. CIBC raised their price target on shares of Royal Bank of Canada from C$208.00 to C$220.00 in a report on Wednesday, November 19th. Bank of America boosted their price objective on shares of Royal Bank of Canada from C$214.00 to C$227.00 in a report on Thursday, August 28th. Erste Group Bank upgraded Royal Bank of Canada to a “strong-buy” rating in a research note on Monday, September 22nd. Finally, TD Securities boosted their price target on Royal Bank of Canada from C$208.00 to C$215.00 in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$216.43.

Royal Bank of Canada Stock Performance

Shares of TSE RY opened at C$215.06 on Monday. Royal Bank of Canada has a fifty-two week low of C$151.25 and a fifty-two week high of C$215.23. The company has a market cap of C$303.30 billion, a PE ratio of 16.27, a P/E/G ratio of 3.42 and a beta of 1.28. The business has a 50-day simple moving average of C$205.85 and a two-hundred day simple moving average of C$190.81.

Royal Bank of Canada Dividend Announcement

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