Royal Bank of Canada (RY) Given New C$102.00 Price Target at Scotiabank
Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target boosted by Scotiabank from C$101.00 to C$102.00 in a research note published on Friday. The brokerage currently has an outperform rating on the financial services provider’s stock.
RY has been the subject of a number of other research reports. TD Securities reiterated a buy rating on shares of Royal Bank of Canada in a research note on Monday, April 3rd. Barclays PLC lifted their price target on Royal Bank of Canada from C$77.00 to C$84.00 in a research note on Monday, February 13th. National Bank Financial reiterated a sector perform rating and set a C$99.00 price target on shares of Royal Bank of Canada in a research note on Friday. CIBC lifted their price target on Royal Bank of Canada from C$101.00 to C$106.00 in a research note on Tuesday, March 7th. Finally, Keefe, Bruyette & Woods lifted their price target on Royal Bank of Canada from C$83.00 to C$92.00 in a research note on Tuesday, February 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of C$95.23.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Wednesday, July 26th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 3.71%.
In other news, insider Jennifer Anne Tory sold 362 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of C$92.87, for a total value of C$33,618.94. Also, insider Alex Douglas Mcgregor sold 25,000 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of C$97.55, for a total transaction of C$2,438,750.00. Insiders have sold a total of 47,701 shares of company stock worth $4,650,454 in the last three months.
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. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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