Analysts Set Royal Bank of Canada (RY) Price Target at $95.00
Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have received an average recommendation of “Hold” from the twelve research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$95.00.
A number of research firms recently commented on RY. Scotiabank lifted their price objective on Royal Bank of Canada from C$101.00 to C$102.00 and gave the stock an “outperform” rating in a research note on Friday, May 26th. National Bank Financial reaffirmed a “sector perform” rating and issued a C$99.00 price objective on shares of Royal Bank of Canada in a research note on Friday, May 26th.
Royal Bank of Canada (RY) traded down 0.07% on Monday, hitting $93.47. 647,989 shares of the stock were exchanged. The company’s 50 day moving average is $94.27 and its 200 day moving average is $95.12. The stock has a market cap of $136.18 billion and a PE ratio of 12.72. Royal Bank of Canada has a 1-year low of $79.74 and a 1-year high of $99.90.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Wednesday, July 26th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, July 24th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.72%.
In other news, Director David Ian Mckay sold 5,352 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of C$93.65, for a total transaction of C$501,214.80. Also, insider Jennifer Anne Tory sold 360 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of C$93.63, for a total value of C$33,706.80. Insiders have sold a total of 44,340 shares of company stock worth $4,121,794 in the last three months.
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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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