Royal Bank of Canada (RY) Receives C$95.00 Average Price Target from Analysts
Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have earned an average rating of “Hold” from the twelve analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$95.00.
A number of research analysts recently issued reports on RY shares. Scotiabank raised their price objective on shares of Royal Bank of Canada from C$101.00 to C$102.00 and gave the company an “outperform” rating in a report on Friday, May 26th. CIBC raised their price target on shares of Royal Bank of Canada from C$101.00 to C$106.00 in a report on Tuesday, March 7th. National Bank Financial restated a “sector perform” rating and set a C$99.00 price target on shares of Royal Bank of Canada in a report on Friday, May 26th. Finally, TD Securities restated a “buy” rating on shares of Royal Bank of Canada in a report on Monday, April 3rd.
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In other news, Director David Ian Mckay sold 3,578 shares of Royal Bank of Canada stock in a transaction on Monday, April 24th. The shares were sold at an average price of C$95.95, for a total value of C$343,309.10. Also, insider Jennifer Anne Tory sold 361 shares of Royal Bank of Canada stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of C$93.20, for a total transaction of C$33,645.20. In the last 90 days, insiders have sold 42,561 shares of company stock valued at $3,964,255.
Royal Bank of Canada (TSE:RY) traded down 0.57% during midday trading on Tuesday, hitting $94.16. 2,750,050 shares of the company were exchanged. Royal Bank of Canada has a one year low of $74.64 and a one year high of $99.90. The firm’s 50-day moving average price is $93.62 and its 200-day moving average price is $94.74. The stock has a market capitalization of $137.18 billion and a PE ratio of 12.82.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Wednesday, July 26th will be issued a dividend of $0.87 per share. The ex-dividend date is Monday, July 24th. This represents a $3.48 annualized dividend and a yield of 3.70%.
Royal Bank of Canada Company Profile
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. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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