Analysts Set Royal Bank of Canada (RY) Price Target at $99.27
Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given an average recommendation of “Hold” by the twelve ratings firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$99.82.
A number of equities analysts recently issued reports on RY shares. Eight Capital increased their price objective on Royal Bank of Canada from C$102.00 to C$105.00 in a report on Friday, August 25th. BMO Capital Markets reissued a “market perform” rating and issued a C$100.00 price objective on shares of Royal Bank of Canada in a report on Thursday, August 24th. Barclays PLC increased their price objective on Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday, August 25th. National Bank Financial decreased their price objective on Royal Bank of Canada from C$101.00 to C$99.00 and set a “sector perform” rating for the company in a report on Thursday, August 24th. Finally, Canaccord Genuity increased their price objective on Royal Bank of Canada from C$100.00 to C$105.00 in a report on Wednesday.
Royal Bank of Canada (TSE RY) traded up C$0.66 on Wednesday, reaching C$101.42. 986,500 shares of the company’s stock were exchanged.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, October 26th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.59%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.87. The ex-dividend date is Wednesday, October 25th.
In other Royal Bank of Canada news, Director David Ian Mckay sold 5,352 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of C$101.53, for a total value of C$543,388.56. Also, insider Jennifer Anne Tory sold 364 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of C$91.78, for a total value of C$33,407.92. Insiders sold 25,348 shares of company stock valued at $2,405,033 over the last 90 days.
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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