Royal Bank of Canada (TSE:RY) Receives Consensus Rating of “Buy” from Analysts

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been assigned a consensus recommendation of “Buy” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is C$176.58.

A number of research analysts have recently weighed in on the company. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. BMO Capital Markets dropped their price objective on Royal Bank of Canada from C$195.00 to C$193.00 in a research note on Thursday, December 5th. Canaccord Genuity Group upped their target price on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and raised their price target for the company from C$178.00 to C$180.00 in a research report on Friday, November 15th. Finally, Scotiabank upped their price objective on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research report on Monday, November 25th.

Insider Buying and Selling

In related news, Director David Ian Mckay sold 20,304 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total value of C$3,555,721.76. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total transaction of C$53,938.25. In the last quarter, insiders have sold 22,150 shares of company stock valued at $3,882,024.

Royal Bank of Canada Price Performance

RY opened at C$175.96 on Monday. The firm has a market capitalization of C$248.10 billion, a PE ratio of 15.59, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a fifty-two week low of C$127.60 and a fifty-two week high of C$180.45. The company’s 50-day moving average is C$174.41 and its 200 day moving average is C$166.28.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 24th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $5.92 annualized dividend and a dividend yield of 3.36%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.42. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.31%.

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.