Canaccord Genuity Boosts Royal Bank of Canada (RY) Price Target to C$108.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective lifted by Canaccord Genuity from C$105.00 to C$108.00 in a research note issued to investors on Thursday morning.

A number of other analysts have also issued reports on the company. Barclays boosted their price target on Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday, August 25th. BMO Capital Markets reiterated a market perform rating and issued a C$100.00 price target on shares of Royal Bank of Canada in a report on Thursday, August 24th. Eight Capital boosted their price target on Royal Bank of Canada from C$102.00 to C$105.00 in a report on Friday, August 25th. Scotiabank lowered Royal Bank of Canada from an outperform rating to a sector perform rating and lowered their price target for the company from C$102.00 to C$100.00 in a report on Monday, August 21st. Finally, CIBC boosted their price target on Royal Bank of Canada from C$103.00 to C$113.00 in a report on Monday, November 13th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Royal Bank of Canada presently has an average rating of Hold and an average target price of C$104.67.

Royal Bank of Canada (TSE RY) opened at C$101.16 on Thursday. Royal Bank of Canada has a 12-month low of C$86.83 and a 12-month high of C$102.15.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be paid a $0.91 dividend. 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 dividend payout ratio (DPR) is 47.54%.

In other Royal Bank of Canada news, Director Thierry Vandal acquired 729 shares of Royal Bank of Canada stock in a transaction that occurred on Friday, September 15th. The stock was bought at an average price 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 business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of C$101.55, for a total transaction of C$34,933.20. Insiders sold 25,328 shares of company stock valued at $2,456,793 in the last three months.

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About Royal Bank of Canada

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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