Royal Bank of Canada (TSE:RY) Hits New 12-Month High - Here's What Happened

Key Points

• The Royal Bank of Canada reached a new **52-week high** of C$206.90 during trading, closing at C$202.18 with a trading volume of **3,439,181 shares**.
• Analyst ratings for the bank are **mixed**, with five analysts giving a **Buy** rating and five a **Hold** rating, and a consensus price target of C$206.00.
• The bank has recently increased its quarterly **dividend** to **$1.54** per share, which represents a **3.0% yield** and a payout ratio of **44.78%**.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY reached a new 52-week high during trading on Friday . The stock traded as high as C$206.90 and last traded at C$202.18, with a volume of 3439181 shares trading hands. The stock had previously closed at C$201.64.

Analyst Upgrades and Downgrades

RY has been the subject of several research reports. National Bankshares set a C$203.00 price target on shares of Royal Bank of Canada and gave the company a "sector perform" rating in a research report on Monday. Barclays upped their price target on shares of Royal Bank of Canada from C$190.00 to C$203.00 in a research report on Thursday, August 28th. Scotiabank upped their price target on shares of Royal Bank of Canada from C$186.00 to C$210.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. National Bank Financial lowered shares of Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research report on Thursday, May 29th. Finally, Jefferies Financial Group increased their target price on shares of Royal Bank of Canada from C$198.00 to C$207.00 in a report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Royal Bank of Canada currently has an average rating of "Moderate Buy" and a consensus price target of C$206.00.

Royal Bank of Canada Trading Up 1.2%

The firm has a market capitalization of C$289.82 billion, a P/E ratio of 15.54, a P/E/G ratio of 3.42 and a beta of 1.17. The company has a 50 day simple moving average of C$189.56 and a two-hundred day simple moving average of C$176.09.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 22nd were paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 3.0%. The ex-dividend date was Thursday, July 24th. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.48. Royal Bank of Canada's dividend payout ratio is currently 44.78%.

Insiders Place Their Bets

In other Royal Bank of Canada news, Director David Ian Mckay sold 20,304 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total value of C$3,701,453.72. Also, Senior Officer Jennifer Kristine Publicover sold 401 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total value of C$73,102.98. Following the completion of the transaction, the insider owned 152 shares of the company's stock, valued at C$27,709.86. The trade was a 72.51% decrease in their ownership of the stock. Insiders sold 21,013 shares of company stock worth $3,830,706 in the last three months.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.