Royal Bank of Canada (TSE:RY) Stock to Pay Quarterly Dividend of $1.76

Key Points

• Royal Bank of Canada declared a quarterly dividend of C$1.76 per share, equivalent to C$7.04 annually and a 2.5% yield. Shareholders of record on November 24 will receive the payment on November 24.
• RBC reported quarterly earnings of C$4.28 per share on revenue of C$18.54 billion, with a 16.11% return on equity and a 15.92% net margin.
• Analysts maintain a “Moderate Buy” consensus, with eight Buy ratings, four Holds, and an average price target of C$292.86.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY announced a quarterly dividend on Monday, October 26th. Stockholders of record on Tuesday, November 24th will be paid a dividend of $1.76 per share by the financial services provider on Tuesday, November 24th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, October 26th.

Royal Bank of Canada Stock Down 0.4%

TSE RY traded down C$1.01 during trading hours on Friday, hitting C$281.77. 2,975,619 shares of the company were exchanged, compared to its average volume of 3,461,987. The company has a 50 day moving average of C$283.33 and a two-hundred day moving average of C$276.08. Royal Bank of Canada has a 52-week low of C$201.76 and a 52-week high of C$306.38. The firm has a market cap of C$390.09 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 3.42 and a beta of 0.97.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last posted its earnings results on Thursday, August 27th. The financial services provider reported C$4.28 earnings per share for the quarter. The firm 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%. On average, equities research analysts predict that Royal Bank of Canada will post 12.35 EPS for the current year.

Wall Street Analysts Forecast Growth

RY has been the subject of several recent research reports. Barclays increased their target price on shares of Royal Bank of Canada from C$260.00 to C$300.00 in a research note on Friday, August 21st. Jefferies Financial Group boosted their price target on Royal Bank of Canada from C$268.00 to C$271.00 in a research report on Thursday, September 3rd. Canaccord Genuity Group upped their price objective on Royal Bank of Canada from C$310.00 to C$318.00 and gave the company a "buy" rating in a research note on Friday, August 28th. Raymond James Financial upped their price objective on Royal Bank of Canada from C$270.50 to C$306.00 and gave the company a "market perform" rating in a research note on Wednesday, August 12th. Finally, Canadian Imperial Bank of Commerce decreased their price objective on Royal Bank of Canada from C$311.00 to C$300.00 and set a "neutral" rating for the company in a research report on Thursday, September 3rd. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$292.86.

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.

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