Royal Bank Of Canada (NYSE:RY) shares 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.

A number of research firms have issued reports on RY. Citigroup Inc. reaffirmed a “buy” rating and issued a $88.00 price objective (down previously from $89.00) on shares of Royal Bank Of Canada in a research note on Friday, June 3rd. Argus began coverage on Royal Bank Of Canada in a research note on Friday, July 1st. They issued a “buy” rating and a $69.00 price objective on the stock. Bank of America Corp. reaffirmed an “underperform” rating on shares of Royal Bank Of Canada in a research note on Tuesday. Zacks Investment Research raised Royal Bank Of Canada from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Friday, May 20th. Finally, TD Securities reaffirmed a “hold” rating and issued a $81.00 price objective (up previously from $79.00) on shares of Royal Bank Of Canada in a research note on Friday, May 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Royal Bank Of Canada has an average rating of “Hold” and an average price target of $77.27.

The stock’s 50-day moving average price is $60.51 and its 200-day moving average price is $56.31. The firm has a market capitalization of $92.07 billion and a P/E ratio of 12.24.

Royal Bank Of Canada (NYSE:RY) last issued its quarterly earnings results on Thursday, May 26th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. During the same quarter in the prior year, the company posted $1.68 EPS. The business had revenue of $9.53 billion for the quarter, compared to analysts’ expectations of $9.51 billion. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts expect that Royal Bank Of Canada will post $6.72 earnings per share for the current year.

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

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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