Royal Bank of Canada (TSE:RY) Given New C$165.00 Price Target at Jefferies Financial Group

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price trimmed by Jefferies Financial Group from C$168.00 to C$165.00 in a report issued on Monday morning, BayStreet.CA reports. The firm currently has a buy rating on the financial services provider’s stock.

RY has been the topic of several other reports. TD Securities upped their target price on Royal Bank of Canada from C$160.00 to C$171.00 in a report on Thursday, August 8th. Desjardins increased their price objective on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a buy rating in a research report on Tuesday, August 6th. CIBC boosted their target price on shares of Royal Bank of Canada from C$135.00 to C$150.00 and gave the company a neutral rating in a report on Friday, May 31st. National Bankshares upped their price target on shares of 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. Finally, Scotiabank lifted their price objective on Royal Bank of Canada from C$148.00 to C$153.00 and gave the stock 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 issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of Moderate Buy and an average price target of C$146.59.

Royal Bank of Canada Stock Performance

Shares of TSE:RY opened at C$152.04 on Monday. Royal Bank of Canada has a 52 week low of C$107.92 and a 52 week high of C$155.22. The firm has a market cap of C$214.38 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 10.64 and a beta of 0.83. The firm’s fifty day moving average is C$148.58 and its 200-day moving average is C$140.70.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced 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 firm had revenue of C$14.15 billion for the quarter, compared to the consensus estimate of C$13.58 billion. Sell-side analysts forecast that Royal Bank of Canada will post 11.1525292 EPS for the current year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be given a $1.42 dividend. The ex-dividend date is Thursday, July 25th. This represents a $5.68 annualized dividend and a yield of 3.74%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.38. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.54%.

Insiders Place Their Bets

In related news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of C$145.15, for a total value of C$7,889,646.16. Following the sale, the insider now owns 25 shares in the company, valued at approximately C$3,628.83. In related news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the company’s stock in a transaction 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 in the company, valued at C$3,628.83. Also, Senior Officer Bruce Washington Ross sold 12,170 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of C$141.46, for a total value of C$1,721,604.71. Following the completion of the sale, the insider now directly owns 235 shares of the company’s stock, valued at C$33,243.81. Over the last 90 days, insiders have 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.