Desjardins Increases Royal Bank of Canada (TSE:RY) Price Target to C$163.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective increased by Desjardins from C$156.00 to C$163.00 in a report released on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. CIBC raised their target price on shares of Royal Bank of Canada from C$135.00 to C$150.00 and gave the company a neutral rating in a report on Friday, May 31st. National Bankshares raised their target price on Royal Bank of Canada from C$154.00 to C$161.00 and gave the company an outperform rating in a report on Friday, May 31st. Jefferies Financial Group lifted their price target on Royal Bank of Canada from C$159.00 to C$168.00 and gave the company a buy rating in a research note on Thursday, June 6th. BMO Capital Markets lowered Royal Bank of Canada from a strong-buy rating to a hold rating in a research note on Friday, May 31st. Finally, UBS Group set a C$165.00 price objective on shares of Royal Bank of Canada and gave the stock a buy rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada currently has an average rating of Moderate Buy and a consensus target price of C$146.76.

Royal Bank of Canada Trading Up 1.0 %

TSE RY opened at C$149.20 on Tuesday. The company has a market cap of C$210.37 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 10.64 and a beta of 0.83. The company has a 50 day moving average of C$148.29 and a 200-day moving average of C$140.09. Royal Bank of Canada has a 1-year low of C$107.92 and a 1-year high of C$155.22.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Thursday, May 30th. The financial services provider reported C$2.92 earnings per share for the quarter, beating the consensus estimate of C$2.77 by C$0.15. The firm had revenue of C$14.15 billion during the quarter, compared to analysts’ expectations of C$13.58 billion. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. On average, equities research analysts forecast that Royal Bank of Canada will post 11.1525292 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.81%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Thursday, July 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is 51.54%.

Insider Buying and Selling

In related news, Senior Officer Douglas Antony Guzman sold 54,354 shares of Royal Bank of Canada stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of C$145.15, for a total transaction of C$7,889,646.16. Following the completion of the transaction, the insider now owns 25 shares of the company’s stock, valued at C$3,628.83. In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 54,354 shares of Royal Bank of Canada stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of C$145.15, for a total value of C$7,889,646.16. Following the completion of the sale, the insider now directly owns 25 shares in the company, valued at C$3,628.83. Also, Senior Officer Bruce Washington Ross sold 20,000 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of C$140.99, for a total value of C$2,819,840.00. Following the transaction, the insider now owns 235 shares in the company, valued at C$33,133.12. Insiders have sold a total of 101,302 shares of company stock valued at $14,592,565 over the last ninety days.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.