Royal Bank of Canada (TSE:RY) Upgraded at National Bankshares

National Bankshares upgraded shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) from a sector perform rating to an outperform rating in a research note released on Monday,BayStreet.CA reports. The brokerage currently has C$231.00 price target on the financial services provider’s stock, up from their prior price target of C$203.00.

Other equities research analysts also recently issued reports about the company. Erste Group Bank upgraded Royal Bank of Canada to a “strong-buy” rating in a report on Monday, September 22nd. Barclays increased their target price on Royal Bank of Canada from C$190.00 to C$203.00 in a research note on Thursday, August 28th. BMO Capital Markets raised their target price on shares of Royal Bank of Canada from C$190.00 to C$203.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Jefferies Financial Group upped their price target on shares of Royal Bank of Canada from C$198.00 to C$207.00 in a report on Wednesday, August 13th. Finally, Canaccord Genuity Group upped their target price on shares of Royal Bank of Canada from C$201.00 to C$219.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$210.23.

Royal Bank of Canada Stock Performance

Shares of TSE:RY opened at C$208.51 on Monday. The company has a 50 day moving average price of C$204.71 and a two-hundred day moving average price of C$189.22. The company has a market capitalization of C$294.06 billion, a PE ratio of 15.77, a PEG ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a 52 week low of C$151.25 and a 52 week high of C$209.06.

Royal Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 24th will be issued a dividend of $1.54 per share. The ex-dividend date is Monday, October 27th. This represents a $6.16 annualized dividend and a yield of 3.0%. Royal Bank of Canada’s dividend payout ratio is presently 44.78%.

Royal Bank of Canada Company Profile

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.