Royal Bank of Canada Announces Quarterly Dividend of C$0.83 (RY)
Royal Bank of Canada (TSE:RY) (NYSE:RY) announced a quarterly dividend on Wednesday, November 30th. Shareholders of record on Thursday, January 26th will be paid a dividend of 0.83 per share on Friday, February 24th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.68%.
Shares of Royal Bank of Canada (TSE:RY) opened at 90.12 on Wednesday. The firm has a market capitalization of $133.72 billion and a P/E ratio of 13.13. The firm has a 50 day moving average price of $84.93 and a 200-day moving average price of $81.00. Royal Bank of Canada has a 52 week low of $64.52 and a 52 week high of $90.16.
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A number of analysts recently weighed in on RY shares. Keefe, Bruyette & Woods lifted their price target on Royal Bank of Canada from C$71.00 to C$74.00 in a research note on Thursday, August 18th. Canaccord Genuity boosted their target price on Royal Bank of Canada from C$89.00 to C$95.00 in a research report on Tuesday, November 22nd. Dundee Securities reiterated a “neutral” rating and set a C$87.00 target price on shares of Royal Bank of Canada in a research report on Wednesday, September 21st. Scotiabank boosted their target price on Royal Bank of Canada from C$85.00 to C$86.00 and gave the stock an “outperform” rating in a research report on Thursday, August 25th. Finally, Barclays PLC boosted their target price on Royal Bank of Canada from C$74.00 to C$77.00 in a research report on Monday, November 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of C$87.23.
In related news, insider Janice Rose Fukakusa sold 62,960 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was 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. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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