Royal Bank of Canada (TSE:RY) Given New C$193.00 Price Target at BMO Capital Markets

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target cut by BMO Capital Markets from C$195.00 to C$193.00 in a research report sent to investors on Thursday,BayStreet.CA reports.

A number of other analysts have also commented on the stock. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price target for the company from C$178.00 to C$180.00 in a research note on Friday, November 15th. CIBC boosted their price target on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Scotiabank boosted their price target on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research note on Monday, November 25th. Jefferies Financial Group decreased their price target on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Bank of America boosted their price target on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research note on Thursday, August 29th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$176.58.

Royal Bank of Canada Stock Down 0.7 %

Royal Bank of Canada stock opened at C$178.27 on Thursday. Royal Bank of Canada has a 12-month low of C$123.44 and a 12-month high of C$180.45. The firm’s fifty day moving average is C$171.85 and its 200 day moving average is C$159.17. The company has a market capitalization of C$251.36 billion, a PE ratio of 15.79, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a $1.48 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a dividend yield of 3.32%. Royal Bank of Canada’s dividend payout ratio is presently 50.31%.

Insider Transactions at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 25 shares in the company, valued at approximately C$4,174.03. This represents a 99.67 % decrease in their ownership of the stock. Insiders sold a total of 44,918 shares of company stock worth $7,518,149 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.