Royal Bank of Canada (RY) Given New C$111.00 Price Target at Scotiabank
Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target hoisted by Scotiabank from C$110.00 to C$111.00 in a report published on Thursday morning. They currently have a sector perform rating on the financial services provider’s stock.
Several other equities research analysts have also commented on the company. National Bank Financial upped their price target on Royal Bank of Canada from C$101.00 to C$105.00 and gave the stock a sector perform rating in a research note on Thursday. Eight Capital increased their price target on Royal Bank of Canada from C$105.00 to C$107.00 in a report on Thursday. Desjardins increased their price target on Royal Bank of Canada from C$108.00 to C$109.00 in a report on Thursday. CSFB upped their price objective on Royal Bank of Canada from C$105.00 to C$108.00 and gave the company an outperform rating in a research note on Thursday. Finally, Canaccord Genuity upped their price objective on Royal Bank of Canada from C$105.00 to C$108.00 in a research note on Thursday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of C$104.67.
Royal Bank of Canada (TSE:RY) traded up C$0.31 during trading on Thursday, reaching C$101.16. The company had a trading volume of 2,306,988 shares, compared to its average volume of 2,619,739. Royal Bank of Canada has a 52-week low of C$87.15 and a 52-week high of C$102.15.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, January 25th will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Wednesday, January 24th. Royal Bank of Canada’s payout ratio is currently 47.54%.
In other news, Director Thierry Vandal purchased 729 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was purchased at an average cost of C$91.91 per share, with a total value of C$67,002.39. Also, insider Jennifer Anne Tory sold 344 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of C$101.18, for a total value of C$34,805.92. Over the last ninety days, insiders have sold 25,328 shares of company stock valued at $2,456,793.
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Royal Bank of Canada Company Profile
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services, and Capital Markets. The Personal & Commercial Banking segment engages in the personal and business banking operations, auto financing, and retail investment businesses.
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