Royal Bank of Canada (TSE:RY) Given Average Rating of “Buy” by Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given an average recommendation of “Buy” by the eleven brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$176.58.

RY has been the topic of several research reports. CIBC upped their target price on Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday, November 26th. BMO Capital Markets lowered their target price on Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. National Bankshares upped their target price on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their target price for the company from C$178.00 to C$180.00 in a report on Friday, November 15th. Finally, Canaccord Genuity Group increased their price objective on Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at C$169.34 on Friday. The firm has a market capitalization of C$239.62 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a fifty-two week low of C$129.07 and a fifty-two week high of C$180.45. The stock’s fifty day moving average is C$174.10 and its two-hundred day moving average is C$168.12.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 24th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 3.50%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.49%.

Insiders Place Their Bets

In other news, Director David Ian Mckay sold 20,304 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$3,555,721.76. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$53,938.25. In the last ninety days, insiders have sold 22,150 shares of company stock valued at $3,882,024.

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.