Royal Bank of Canada (TSE:RY) Receives C$175.92 Consensus Price Target from Brokerages

Royal Bank of Canada (TSE:RY) (NYSE:RY) has earned a consensus recommendation of “Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$175.92.

Several research analysts have issued reports on RY shares. Bank of America upped their price target on Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. BMO Capital Markets lifted their target price on Royal Bank of Canada from C$165.00 to C$195.00 in a research report on Monday, November 18th. National Bankshares boosted their target price on Royal Bank of Canada from C$169.00 to C$181.00 in a report on Wednesday, November 20th. Scotiabank raised their price target on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. Finally, Desjardins upped their target price on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at C$175.80 on Friday. Royal Bank of Canada has a one year low of C$122.25 and a one year high of C$176.81. The company has a 50-day simple moving average of C$171.18 and a 200-day simple moving average of C$158.46. The firm has a market capitalization of C$247.88 billion, a P/E ratio of 15.57, a P/E/G ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 22nd were given a $1.42 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $5.68 annualized dividend and a yield of 3.23%. Royal Bank of Canada’s dividend payout ratio is currently 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of C$166.96, for a total transaction of C$1,252,207.50. Following the transaction, the insider now owns 25 shares in the company, valued at C$4,174.03. This represents a 99.67 % decrease in their position. Insiders sold a total of 59,918 shares of company stock worth $9,993,149 over the last ninety 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.