Royal Bank of Canada (TSE:RY – Free Report) (NYSE:RY) had its target price boosted by National Bank Financial from C$257.00 to C$271.00 in a research report sent to investors on Friday morning,BayStreet.CA reports. The firm currently has an outperform rating on the financial services provider’s stock.
A number of other research analysts also recently commented on the company. Canaccord Genuity Group increased their target price on Royal Bank of Canada from C$242.00 to C$255.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. TD raised their price target on Royal Bank of Canada from C$259.00 to C$267.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Raymond James Financial downgraded Royal Bank of Canada from a “moderate buy” rating to a “hold” rating and raised their price target for the stock from C$248.00 to C$265.50 in a research report on Tuesday. Barclays raised their price target on Royal Bank of Canada from C$244.00 to C$245.00 in a research report on Friday, February 27th. Finally, Scotiabank raised their price target on Royal Bank of Canada from C$247.00 to C$252.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of C$251.12.
Read Our Latest Stock Report on Royal Bank of Canada
Royal Bank of Canada Stock Performance
Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last posted its earnings results on Thursday, February 26th. The financial services provider reported C$4.08 EPS for the quarter. The firm had revenue of C$17.96 billion during the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%. As a group, equities analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.
Royal Bank of Canada Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 22nd will be given a $1.64 dividend. The ex-dividend date is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 2.6%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 42.58%.
Insider Buying and Selling
In other Royal Bank of Canada news, Director David Ian Mckay sold 23,089 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total value of C$5,606,470.98. Following the sale, the director owned 5,873 shares in the company, valued at C$1,426,081.86. This trade represents a 79.72% decrease in their ownership of the stock. Also, insider Bruce Washington Ross sold 3,657 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total value of C$887,992.74. Following the completion of the sale, the insider owned 235 shares in the company, valued at approximately C$57,062.70. The trade was a 93.96% decrease in their position. Insiders sold 29,110 shares of company stock valued at $7,068,490 over the last 90 days.
Royal Bank of Canada Company Profile
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.
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