Royal Bank of Canada (TSE:RY) PT Raised to C$163.00 at Desjardins

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target upped by Desjardins from C$156.00 to C$163.00 in a research note published on Tuesday, BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on the stock. TD Securities raised their target price on shares of Royal Bank of Canada from C$156.00 to C$160.00 and gave the stock a buy rating in a research note on Friday, May 31st. UBS Group set a C$165.00 price target on shares of Royal Bank of Canada and gave the company a buy rating in a report on Tuesday, July 2nd. National Bankshares upped their target price 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. CIBC lifted their price target on Royal Bank of Canada from C$135.00 to C$150.00 and gave the stock a neutral rating in a report on Friday, May 31st. Finally, Argus upgraded Royal Bank of Canada to a strong-buy rating in a research note on Thursday, June 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada has an average rating of Moderate Buy and an average target price of C$146.76.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at C$149.84 on Tuesday. The stock has a 50-day simple moving average of C$148.31 and a 200 day simple moving average of C$140.20. The stock has a market capitalization of C$211.27 billion, a P/E ratio of 13.99, a PEG ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a 52 week low of C$107.92 and a 52 week high of C$155.22.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its earnings results on Thursday, May 30th. The financial services provider reported C$2.92 EPS for the quarter, topping the consensus estimate of C$2.77 by C$0.15. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. The company had revenue of C$14.15 billion during the quarter, compared to the consensus estimate of C$13.58 billion. Research analysts forecast that Royal Bank of Canada will post 11.1525292 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be issued a $1.42 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.38. This represents a $5.68 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, July 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 51.54%.

Insider Activity

In related news, 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 transaction of C$2,819,840.00. Following the sale, the insider now owns 235 shares in the company, valued at approximately C$33,133.12. In related news, Senior Officer Bruce Washington Ross sold 20,000 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the completion of the sale, the insider now directly owns 235 shares in the company, valued at approximately C$33,133.12. Also, Senior Officer Neil Mclaughlin sold 14,778 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total value of C$2,161,474.61. In the last ninety days, insiders sold 101,302 shares of company stock worth $14,592,565.

Royal Bank of Canada Company Profile

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.