Eight Capital Boosts Royal Bank of Canada (RY) Price Target to C$105.00
A number of other analysts have also weighed in on the stock. National Bank Financial restated a sector perform rating and issued a C$99.00 target price on shares of Royal Bank of Canada in a research report on Friday, May 26th. Scotiabank lifted their price target 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. Barclays PLC lifted their price target on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday. Finally, BMO Capital Markets reiterated a market perform rating and set a C$100.00 price target on shares of Royal Bank of Canada in a report on Thursday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Royal Bank of Canada presently has an average rating of Hold and a consensus target price of C$99.75.
Royal Bank of Canada (RY) opened at 93.25 on Friday. The stock’s 50 day moving average price is $93.80 and its 200 day moving average price is $95.01. Royal Bank of Canada has a 12 month low of $79.75 and a 12 month high of $99.90. The firm has a market capitalization of $135.95 billion and a PE ratio of 12.74.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, October 26th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.90%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.87.
In related news, Director Thierry Vandal sold 750 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of C$93.61, for a total value of C$70,207.50. Also, Director David Ian Mckay sold 5,352 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of C$91.78, for a total transaction of C$491,206.56. In the last quarter, insiders have sold 46,116 shares of company stock worth $4,280,680.
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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