Royal Bank of Canada (RY) Price Target Raised to C$77.00 at Barclays PLC
Several other research analysts have also commented on RY. CIBC lifted their price target on shares of Royal Bank of Canada from C$81.00 to C$82.00 in a report on Wednesday, August 10th. Keefe, Bruyette & Woods lifted their price target on shares of Royal Bank of Canada from C$71.00 to C$74.00 in a report on Thursday, August 18th. Bank of America Corp. lifted their price objective 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. CSFB cut their price objective on shares of Royal Bank of Canada from C$100.00 to C$96.00 and set an outperform rating on the stock in a research report on Thursday, August 25th. Finally, Desjardins reiterated a buy rating and issued a C$86.00 price objective on shares of Royal Bank of Canada in a research report on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of C$86.77.
Royal Bank of Canada (TSE:RY) opened at 88.95 on Monday. Royal Bank of Canada has a 12 month low of $64.52 and a 12 month high of $89.26. The firm’s 50-day moving average is $83.79 and its 200 day moving average is $80.52. The firm has a market capitalization of $131.98 billion and a price-to-earnings ratio of 12.96.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 24th. Investors 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 is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a yield of 3.73%.
In other Royal Bank of Canada news, insider Janice Rose Fukakusa sold 62,960 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of C$81.08, for a total value of C$5,104,796.80.
Royal Bank of Canada Company Profile
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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