Royal Bank of Canada (TSE:RY) Posts Quarterly Earnings Results

Royal Bank of Canada (TSE:RY) (NYSE:RY) announced its quarterly earnings data on Thursday. The financial services provider reported C$3.90 earnings per share (EPS) for the quarter, FiscalAI reports. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. The company had revenue of C$17.45 billion for the quarter.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at C$261.64 on Thursday. Royal Bank of Canada has a 52 week low of C$171.29 and a 52 week high of C$265.10. The firm has a market capitalization of C$363.81 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 3.42 and a beta of 1.14. The company has a 50 day moving average price of C$239.70 and a 200 day moving average price of C$231.36.

Royal Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 22nd were given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, April 23rd. Royal Bank of Canada’s dividend payout ratio is 42.58%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RY shares. Canadian Imperial Bank of Commerce raised their target price on shares of Royal Bank of Canada from C$242.00 to C$258.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. National Bank Financial increased their price objective on Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. TD raised their price objective on Royal Bank of Canada from C$259.00 to C$267.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Scotiabank lifted their target price on Royal Bank of Canada from C$247.00 to C$252.00 and gave the stock a “sector outperform” rating in a report on Monday, May 4th. Finally, Barclays boosted their target price on Royal Bank of Canada from C$244.00 to C$245.00 in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$253.19.

Insider Activity at Royal Bank of Canada

In other news, Director David Ian Mckay sold 23,089 shares of Royal Bank of Canada stock in a transaction on Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total transaction of C$6,045,392.87. Following the transaction, the director owned 5,873 shares in the company, valued at approximately C$1,537,727.59. The trade was a 79.72% decrease in their ownership of the stock. Also, insider Bruce Washington Ross sold 3,657 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total value of C$957,512.31. Following the transaction, the insider directly owned 235 shares in the company, valued at C$61,530.05. The trade was a 93.96% decrease in their ownership of the stock. Over the last 90 days, insiders sold 58,220 shares of company stock worth $14,690,362.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.