Shares of Royal Bank Of Canada (NYSE:RY) gapped up prior to trading on Thursday . The stock had previously closed at $60.82, but opened at $61.04. Royal Bank Of Canada shares last traded at $62.14, with a volume of 702,092 shares traded.

Several analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Friday, May 20th. Bank of America Corp. restated an “underperform” rating on shares of Royal Bank Of Canada in a report on Tuesday. Argus started coverage on shares of Royal Bank Of Canada in a report on Friday, July 1st. They set a “buy” rating and a $69.00 target price on the stock. Credit Suisse Group AG restated a “buy” rating on shares of Royal Bank Of Canada in a report on Saturday, June 4th. Finally, TD Securities restated a “hold” rating and set a $81.00 target price (up previously from $79.00) on shares of Royal Bank Of Canada in a report on Friday, May 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $77.27.

The company has a market capitalization of $92.06 billion and a P/E ratio of 12.12. The firm has a 50 day moving average of $60.50 and a 200-day moving average of $56.26.

Royal Bank Of Canada (NYSE:RY) last released its quarterly earnings data on Thursday, May 26th. The company reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.02. The company earned $9.53 billion during the quarter, compared to analyst estimates of $9.51 billion. During the same quarter in the prior year, the company posted $1.68 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts forecast that Royal Bank Of Canada will post $6.72 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Tuesday, July 26th will be paid a dividend of $0.6163 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, July 22nd. This represents a $2.47 annualized dividend and a dividend yield of 3.98%.

Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets.

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