Royal Bank of Canada (TSE:RY) Reaches New 1-Year High at $150.30

Royal Bank of Canada (TSE:RY) (NYSE:RY) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$150.30 and last traded at C$150.11, with a volume of 659127 shares. The stock had previously closed at C$149.10.

Analysts Set New Price Targets

RY has been the subject of a number of recent research reports. Desjardins raised their price objective on shares of Royal Bank of Canada from C$142.00 to C$156.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Jefferies Financial Group raised their price target on Royal Bank of Canada from C$159.00 to C$168.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. National Bankshares upped their price objective on Royal Bank of Canada from C$154.00 to C$161.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. UBS Group set a C$165.00 price objective on Royal Bank of Canada and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Finally, Scotiabank boosted their price objective on shares of Royal Bank of Canada from C$148.00 to C$153.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average target price of C$145.71.

Royal Bank of Canada Trading Down 0.3 %

The firm has a 50-day moving average of C$144.75 and a 200 day moving average of C$137.60. The stock has a market capitalization of C$212.01 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 10.64 and a beta of 0.83.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Thursday, May 30th. The financial services provider reported C$2.92 EPS for the quarter, beating the consensus estimate of C$2.77 by C$0.15. The firm had revenue of C$14.15 billion for the quarter, compared to analysts’ expectations of C$13.58 billion. Royal Bank of Canada had a net margin of 28.61% and a return on equity of 13.66%. Equities research analysts predict that Royal Bank of Canada will post 11.1525292 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be issued a dividend of $1.42 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.38. This represents a $5.68 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, July 25th. Royal Bank of Canada’s payout ratio is currently 51.54%.

Insiders Place Their Bets

In related news, Senior Officer Bruce Washington Ross sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the transaction, the insider now owns 235 shares of the company’s stock, valued at C$33,133.12. In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of C$145.15, for a total transaction of C$7,889,646.16. Following the completion of the sale, the insider now owns 25 shares of the company’s stock, valued at C$3,628.83. Also, Senior Officer Bruce Washington Ross sold 20,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of C$140.99, for a total value of C$2,819,840.00. Following the transaction, the insider now owns 235 shares in the company, valued at approximately C$33,133.12. Insiders have sold a total of 101,302 shares of company stock valued at $14,592,565 in the last three months.

About Royal Bank of Canada

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.