Royal Bank of Canada (TSE:RY) Given Average Rating of "Buy" by Analysts

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY has been given a consensus recommendation of "Buy" by the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and five have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$180.33.

RY has been the subject of several analyst reports. Cormark reduced their price objective on Royal Bank of Canada from C$194.00 to C$189.00 in a research note on Friday, February 28th. Jefferies Financial Group reduced their price objective on Royal Bank of Canada from C$195.00 to C$180.00 in a research note on Monday, April 21st. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Scotiabank upgraded Royal Bank of Canada to a "strong-buy" rating in a research note on Thursday, May 15th. Finally, National Bankshares set a C$179.00 price objective on Royal Bank of Canada and gave the stock an "outperform" rating in a research note on Thursday, May 22nd.

Royal Bank of Canada Stock Down 3.5%

RY traded down C$6.20 during mid-day trading on Friday, reaching C$172.40. 8,100,345 shares of the company traded hands, compared to its average volume of 4,870,930. The stock has a market capitalization of C$243.95 billion, a P/E ratio of 15.02, a P/E/G ratio of 3.42 and a beta of 0.84. The company's fifty day moving average price is C$165.66 and its 200-day moving average price is C$169.52. Royal Bank of Canada has a 52-week low of C$140.53 and a 52-week high of C$180.45.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 3.57%. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.48. Royal Bank of Canada's dividend payout ratio (DPR) is presently 49.49%.

Insiders Place Their Bets

In other Royal Bank of Canada news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of C$161.89, for a total value of C$49,862.12. Also, Director David Ian Mckay sold 20,304 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of C$161.89, for a total transaction of C$3,287,014.56. Insiders sold a total of 62,330 shares of company stock valued at $10,312,755 over the last 90 days.

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.