Royal Bank of Canada (RY.TO) – What Are Brokerages Thinking About This Stock?

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$292.86.

RY has been the subject of a number of analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Royal Bank of Canada from C$316.00 to C$324.00 in a report on Monday, August 31st. Barclays increased their price target on shares of Royal Bank of Canada from C$260.00 to C$300.00 in a research note on Friday, August 21st. Scotiabank raised their price objective on Royal Bank of Canada from C$275.00 to C$280.00 and gave the company a “sector outperform” rating in a research report on Tuesday, June 16th. Jefferies Financial Group lifted their price objective on Royal Bank of Canada from C$268.00 to C$271.00 in a research note on Thursday, September 3rd. Finally, Canadian Imperial Bank of Commerce dropped their target price on shares of Royal Bank of Canada from C$311.00 to C$300.00 and set a “neutral” rating on the stock in a research note on Thursday, September 3rd.

Royal Bank of Canada Price Performance

Shares of TSE:RY opened at C$273.78 on Wednesday. Royal Bank of Canada has a 52 week low of C$200.82 and a 52 week high of C$306.38. The company’s fifty day moving average is C$286.67 and its 200 day moving average is C$272.56. The stock has a market cap of C$379.03 billion, a PE ratio of 17.26, a PEG ratio of 3.42 and a beta of 0.97.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its earnings results on Thursday, August 27th. The financial services provider reported C$4.28 earnings per share for the quarter. The company had revenue of C$18.54 billion during the quarter. Royal Bank of Canada had a return on equity of 16.11% and a net margin of 15.92%. Sell-side analysts anticipate that Royal Bank of Canada will post 12.35 EPS for the current year.

Royal Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 24th will be issued a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, October 26th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 41.49%.

Insider Activity at Royal Bank of Canada

In other Royal Bank of Canada news, insider Kelly Bradley sold 5,142 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of C$283.07, for a total transaction of C$1,455,545.94. Following the completion of the sale, the insider directly owned 1,043 shares in the company, valued at C$295,242.01. The trade was a 83.14% decrease in their position. Also, insider Maria Elena Douvas sold 9,604 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of C$275.20, for a total transaction of C$2,643,020.80. Insiders sold 104,579 shares of company stock worth $29,698,322 in the last 90 days.

About Royal Bank of Canada

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.