Royal Bank of Canada (TSE:RY) Receives C$84.23 Consensus Price Target from Brokerages
Royal Bank of Canada (TSE:RY) has been given a consensus rating of “Hold” by the thirteen ratings firms that are presently covering the firm. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$84.23.
RY has been the subject of a number of research reports. Bank of America Corp. increased their target price on shares of Royal Bank of Canada from C$75.00 to C$76.00 and gave the company an “underperform” rating in a research report on Thursday, August 25th. CIBC raised their price objective on shares of Royal Bank of Canada from C$84.00 to C$87.00 in a report on Friday, September 2nd. TD Securities raised their price objective on shares of Royal Bank of Canada from C$81.00 to C$86.00 and gave the stock a “hold” rating in a report on Thursday, August 25th. National Bank Financial raised their price objective on shares of Royal Bank of Canada from C$83.00 to C$84.00 in a report on Thursday, August 25th. Finally, Barclays PLC raised their price objective on shares of Royal Bank of Canada from C$72.00 to C$74.00 and gave the stock an “underweight” rating in a report on Thursday, August 25th.
Royal Bank of Canada (TSE:RY) opened at 81.62 on Monday. The firm has a market capitalization of $121.11 billion and a P/E ratio of 11.89. Royal Bank of Canada has a 12 month low of $64.52 and a 12 month high of $83.00. The firm’s 50-day moving average is $81.18 and its 200 day moving average is $78.65.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 24th. Stockholders of record on Wednesday, October 26th will be given a dividend of $0.83 per share. The ex-dividend date is Monday, October 24th. This represents a $3.32 annualized dividend and a dividend yield of 4.07%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.81.
In other news, insider Janice Rose Fukakusa sold 62,960 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of C$81.08, for a total transaction of C$5,104,796.80.
About Royal Bank of Canada
Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets.
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