Royal Bank of Canada (TSE:RY) Given Average Recommendation of “Moderate Buy” by Brokerages

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) has received a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$144.50.

Several equities research analysts have weighed in on RY shares. Jefferies Financial Group increased their price target on shares of Royal Bank of Canada from C$159.00 to C$168.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. BMO Capital Markets downgraded shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, May 31st. CIBC boosted their price target on shares of Royal Bank of Canada from C$135.00 to C$150.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. Desjardins boosted their target price on shares of Royal Bank of Canada from C$142.00 to C$156.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, National Bankshares upped their price objective on shares of Royal Bank of Canada from C$154.00 to C$161.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st.

Get Our Latest Stock Analysis on Royal Bank of Canada

Royal Bank of Canada Price Performance

Shares of TSE:RY opened at C$143.41 on Friday. Royal Bank of Canada has a one year low of C$107.92 and a one year high of C$149.24. The firm has a market capitalization of C$202.21 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 10.64 and a beta of 0.83. The company’s fifty day moving average price is C$140.57 and its 200-day moving average price is C$134.88.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be paid a dividend of $1.42 per share. The ex-dividend date is Thursday, July 25th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.96%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.38. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 51.54%.

Insider Activity

In other news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were 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 of the company’s stock, valued at C$3,628.83. In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 54,354 shares of Royal Bank of Canada stock in a transaction on 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 completion of the transaction, the insider now owns 25 shares of the company’s stock, valued at C$3,628.83. Also, Senior Officer Neil Mclaughlin sold 14,778 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total transaction of C$2,161,474.61.

Royal Bank of Canada Company Profile

(Get Free Report

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.

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Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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