Royal Bank of Canada (TSE:RY) Receives C$176.58 Average Price Target from Analysts

Royal Bank of Canada (TSE:RY) (NYSE:RY) has received a consensus recommendation of “Buy” from the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$180.50.

RY has been the subject of a number of research analyst reports. Scotiabank dropped their target price on shares of Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating for the company in a research note on Thursday. National Bankshares boosted their price objective on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Jefferies Financial Group lowered their target price on Royal Bank of Canada from C$197.00 to C$192.00 in a research note on Tuesday. Finally, UBS Group cut their price target on Royal Bank of Canada from C$200.00 to C$192.00 in a research note on Friday, February 14th.

Insider Buying and Selling at Royal Bank of Canada

In other news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$53,938.25. Also, Senior Officer Douglas Antony Guzman sold 1,538 shares of Royal Bank of Canada stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total value of C$272,363.80. Following the completion of the transaction, the insider now directly owns 25 shares in the company, valued at approximately C$4,427.24. This represents a 98.40 % decrease in their ownership of the stock. Over the last three months, insiders sold 22,150 shares of company stock worth $3,882,024.

Royal Bank of Canada Stock Performance

Shares of TSE:RY opened at C$169.40 on Friday. The business has a fifty day moving average of C$173.09 and a 200-day moving average of C$168.83. The firm has a market cap of C$239.70 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a twelve month low of C$130.44 and a twelve month high of C$180.45.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 24th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.42. Royal Bank of Canada’s dividend payout ratio is presently 49.49%.

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.