Royal Bank of Canada (TSE:RY) Receives Consensus Rating of "Buy" from Analysts

Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY have earned an average recommendation of "Buy" from the eleven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, five have issued a buy rating and five have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$180.33.

A number of brokerages have recently commented on RY. Jefferies Financial Group dropped their target price on shares of Royal Bank of Canada from C$195.00 to C$180.00 in a report on Monday, April 21st. Cibc World Mkts upgraded shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Cormark reduced their price target on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. UBS Group reduced their price target on shares of Royal Bank of Canada from C$198.00 to C$196.00 in a research report on Thursday, May 22nd. Finally, National Bankshares set a C$179.00 target price on shares of Royal Bank of Canada and gave the stock an "outperform" rating in a report on Thursday, May 22nd.

Insiders Place Their Bets

In related news, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of C$174.06, for a total transaction of C$53,611.16. Also, Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of C$160.27, for a total value of C$3,254,042.89. Over the last ninety days, insiders sold 62,330 shares of company stock worth $10,312,755.

Royal Bank of Canada Stock Performance

RY traded up C$1.48 on Friday, reaching C$177.87. The company had a trading volume of 3,691,350 shares, compared to its average volume of 4,841,257. The company has a market cap of C$251.69 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52-week low of C$140.53 and a 52-week high of C$180.45. The business has a 50 day simple moving average of C$164.92 and a 200 day simple moving average of C$169.40.

Royal Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 23rd were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, April 24th. This represents a $5.92 annualized dividend and a dividend yield of 3.33%. Royal Bank of Canada's dividend payout ratio is currently 49.49%.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.