Royal Bank of Canada (TSE:RY) Receives C$95.00 Consensus Price Target from Brokerages
Royal Bank of Canada (TSE:RY) (NYSE:RY) has received a consensus rating of “Hold” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$95.00.
RY has been the topic of a number of research analyst reports. TD Securities reissued a “buy” rating on shares of Royal Bank of Canada in a report on Monday, April 3rd. Scotiabank raised their price objective on shares of Royal Bank of Canada from C$101.00 to C$102.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. Finally, National Bank Financial reissued a “sector perform” rating and set a C$99.00 price objective on shares of Royal Bank of Canada in a report on Friday, May 26th.
Royal Bank of Canada (RY) traded down 0.03% on Monday, hitting $93.22. 2,013,888 shares of the company traded hands. Royal Bank of Canada has a 12 month low of $78.24 and a 12 month high of $99.90. The firm has a market capitalization of $135.81 billion and a P/E ratio of 12.69. The stock’s 50-day moving average is $94.36 and its 200 day moving average is $95.11.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Wednesday, July 26th will be given a $0.87 dividend. The ex-dividend date of this dividend is Monday, July 24th. This represents a $3.48 annualized dividend and a dividend yield of 3.73%.
In other news, insider Alex Douglas Mcgregor sold 30,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of C$92.79, for a total transaction of C$2,783,700.00. Also, Director David Ian Mckay sold 3,578 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of C$92.82, for a total transaction of C$332,109.96. Insiders sold a total of 44,340 shares of company stock valued at $4,121,794 in the last three months.
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About Royal Bank of Canada
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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