Royal Bank of Canada (TSE:RY) Stock Rating Lowered by TD Securities

TD Securities cut shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) from a buy rating to a hold rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has C$180.00 price target on the financial services provider’s stock, up from their previous price target of C$178.00.

A number of other research analysts also recently commented on RY. CIBC boosted their target price on Royal Bank of Canada from C$166.00 to C$167.00 in a research note on Friday, September 6th. BMO Capital Markets increased their price objective on Royal Bank of Canada from C$151.00 to C$165.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Barclays raised their price objective on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research report on Tuesday, August 20th. Cormark boosted their target price on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a research report on Thursday, August 29th. Finally, National Bankshares increased their price target on shares of Royal Bank of Canada from C$160.00 to C$169.00 in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$165.85.

Royal Bank of Canada Stock Performance

Shares of RY opened at C$171.60 on Friday. The company has a market capitalization of C$241.96 billion, a PE ratio of 15.20, a PEG ratio of 3.42 and a beta of 0.84. The company’s 50 day moving average price is C$169.41 and its 200 day moving average price is C$155.69. Royal Bank of Canada has a 52 week low of C$115.57 and a 52 week high of C$175.04.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. The company had revenue of C$14.63 billion during the quarter, compared to analyst estimates of C$14.27 billion. On average, equities analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 22nd will be issued a $1.42 dividend. The ex-dividend date is Thursday, October 24th. This represents a $5.68 annualized dividend and a yield of 3.31%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.31%.

Insiders Place Their Bets

In related news, Senior Officer Douglas Antony Guzman sold 17,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$167.95, for a total transaction of C$2,855,150.00. Following the transaction, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,198.75. The trade was a 99.85 % decrease in their ownership of the stock. Also, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Insiders sold a total of 144,770 shares of company stock valued at $23,959,265 in the last quarter.

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.