Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) has earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$251.12.
RY has been the topic of several analyst reports. Canadian Imperial Bank of Commerce lifted their price target on shares of Royal Bank of Canada from C$242.00 to C$258.00 and gave the stock a “neutral” rating in a report on Thursday. Jefferies Financial Group lifted their price target on shares of Royal Bank of Canada from C$217.00 to C$220.00 in a report on Wednesday, February 11th. National Bank Financial lifted their price target on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a report on Friday. Scotiabank lifted their price target on shares of Royal Bank of Canada from C$247.00 to C$252.00 and gave the stock a “sector outperform” rating in a report on Monday, May 4th. Finally, Raymond James Financial lowered shares of Royal Bank of Canada from a “moderate buy” rating to a “hold” rating and lifted their price target for the stock from C$248.00 to C$265.50 in a report on Tuesday, May 12th.
Check Out Our Latest Report on Royal Bank of Canada
Royal Bank of Canada Stock Up 0.0%
Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last issued its quarterly earnings data on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. The company had revenue of C$17.96 billion for the quarter. Analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.
Royal Bank of Canada Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank of Canada’s payout ratio is currently 42.58%.
Insider Buying and Selling at Royal Bank of Canada
In other news, insider Bruce Washington Ross sold 3,657 shares of Royal Bank of Canada stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total transaction of C$887,992.74. Following the completion of the sale, the insider directly owned 235 shares in the company, valued at approximately C$57,062.70. The trade was a 93.96% decrease in their ownership of the stock. Also, insider Katherine Gibson sold 462 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total transaction of C$112,182.84. Following the transaction, the insider owned 290 shares of the company’s stock, valued at C$70,417.80. This represents a 61.44% decrease in their ownership of the stock. In the last ninety days, insiders sold 29,110 shares of company stock valued at $7,068,490.
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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