A number of other equities research analysts also recently issued reports on the stock. Eight Capital raised shares of Royal Bank of Canada from a neutral rating to a buy rating and upped their price objective for the stock from C$107.00 to C$113.00 in a research report on Monday, December 11th. Desjardins upped their price objective on shares of Royal Bank of Canada from C$108.00 to C$109.00 in a research report on Thursday, November 30th. BMO Capital Markets upped their price objective on shares of Royal Bank of Canada from C$100.00 to C$102.00 and gave the stock a market perform rating in a research report on Thursday, November 30th. CIBC upped their price objective on shares of Royal Bank of Canada from C$103.00 to C$113.00 in a research report on Monday, November 13th. Finally, Canaccord Genuity upped their price objective on shares of Royal Bank of Canada from C$105.00 to C$108.00 in a research report on Thursday, November 30th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of C$108.08.
Royal Bank of Canada (TSE RY) traded up C$0.81 during trading hours on Friday, hitting C$107.72. 3,120,800 shares of the stock traded hands, compared to its average volume of 2,070,000. The company has a market capitalization of $157,300.00, a P/E ratio of 14.25 and a beta of 0.72. Royal Bank of Canada has a one year low of C$90.13 and a one year high of C$107.97.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders 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 3.38%. The ex-dividend date is Wednesday, January 24th. Royal Bank of Canada’s payout ratio is 46.03%.
In other Royal Bank of Canada news, insider Alex Douglas Mcgregor sold 7,403 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of C$101.73, for a total value of C$753,107.19. Also, insider Jennifer Anne Tory sold 344 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of C$101.55, for a total transaction of C$34,933.20. Over the last quarter, insiders sold 18,795 shares of company stock worth $1,907,804.
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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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