Royal Bank of Canada (TSE:RY) Plans $1.42 Quarterly Dividend

Royal Bank of Canada (TSE:RY) (NYSE:RY) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Investors of record on Friday, November 22nd will be paid a dividend of 1.42 per share by the financial services provider on Friday, November 22nd. This represents a $5.68 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Thursday, October 24th.

Royal Bank of Canada Stock Down 0.1 %

Shares of TSE:RY opened at C$172.86 on Wednesday. The company has a market cap of C$243.73 billion, a P/E ratio of 15.31, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52 week low of C$107.92 and a 52 week high of C$175.04. The company has a 50-day moving average price of C$163.54 and a 200 day moving average price of C$150.91.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. The firm had revenue of C$14.63 billion during the quarter, compared to the consensus estimate of C$14.27 billion. Analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insiders Place Their Bets

In other Royal Bank of Canada news, Director David Ian Mckay sold 74,852 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. In other news, Director David Ian Mckay sold 74,852 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 17,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$167.95, for a total transaction of C$2,855,150.00. Following the completion of the sale, the insider now owns 25 shares in the company, valued at approximately C$4,198.75. This trade represents a 0.00 % decrease in their position. Insiders have sold 144,770 shares of company stock worth $23,959,265 in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RY shares. TD Securities raised their price objective on shares of Royal Bank of Canada from C$171.00 to C$178.00 in a research note on Thursday, August 29th. National Bankshares raised their price objective on shares of Royal Bank of Canada from C$160.00 to C$169.00 in a research note on Thursday, August 29th. Canaccord Genuity Group lifted their target price on shares of Royal Bank of Canada from C$159.50 to C$172.00 in a research note on Thursday, August 29th. BMO Capital Markets lifted their target price on shares of Royal Bank of Canada from C$151.00 to C$165.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Cormark lifted their target price on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a research note on Thursday, August 29th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$163.38.

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.