Royal Bank of Canada (TSE:RY) Receives C$180.00 Average PT from Brokerages

Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY have received an average rating of "Buy" from the eleven brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$180.00.

A number of research firms have weighed in on RY. UBS Group raised their price objective on shares of Royal Bank of Canada from C$192.00 to C$198.00 in a research note on Friday, March 7th. TD Securities decreased their price objective on Royal Bank of Canada from C$180.00 to C$178.00 and set a "hold" rating for the company in a report on Friday, February 28th. Cormark lowered their price objective on Royal Bank of Canada from C$194.00 to C$189.00 in a research note on Friday, February 28th. National Bankshares cut their target price on Royal Bank of Canada from C$190.00 to C$179.00 and set an "outperform" rating on the stock in a research report on Monday, April 7th. Finally, Jefferies Financial Group lowered their price target on Royal Bank of Canada from C$195.00 to C$180.00 in a research report on Monday, April 21st.

Royal Bank of Canada Stock Performance

Shares of TSE RY traded down C$0.43 during midday trading on Wednesday, hitting C$167.00. 4,169,917 shares of the stock traded hands, compared to its average volume of 4,966,861. Royal Bank of Canada has a one year low of C$137.93 and a one year high of C$180.45. The business has a 50 day moving average price of C$162.30 and a two-hundred day moving average price of C$169.35. The company has a market cap of C$236.31 billion, a PE ratio of 14.55, a P/E/G ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 23rd will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is currently 49.49%.

Insider Buying and Selling

In other news, Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock in a transaction on 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. Also, Senior Officer Jennifer Kristine Publicover sold 401 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of C$160.27, for a total value of C$64,266.71. Following the sale, the insider now owns 152 shares in the company, valued at approximately C$24,360.45. This represents a 72.51 % decrease in their ownership of the stock. In the last quarter, insiders have sold 61,929 shares of company stock valued at $10,152,340.

Royal Bank of Canada Company Profile

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.