Royal Bank of Canada (RY) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have received a consensus recommendation of “Hold” from the twelve analysts that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$108.45.
A number of research firms have issued reports on RY. CSFB upped their target price on shares of Royal Bank of Canada from C$108.00 to C$114.00 in a research report on Friday, January 19th. National Bank Financial upped their target price on shares of Royal Bank of Canada from C$105.00 to C$107.00 and gave the company a “sector perform” rating in a research report on Friday, January 12th. CIBC downgraded shares of Royal Bank of Canada from an “outperform” rating to a “neutral” rating and upped their target price for the company from C$113.00 to C$114.00 in a research report on Thursday, February 1st. Eight Capital upgraded shares of Royal Bank of Canada from a “neutral” rating to a “buy” rating and upped their target price for the company from C$107.00 to C$113.00 in a research report on Monday, December 11th. Finally, Citigroup upped their target price on shares of Royal Bank of Canada from C$118.00 to C$120.00 in a research report on Tuesday, December 12th.
In related news, insider Alex Douglas Mcgregor sold 7,403 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of C$101.73, for a total transaction of C$753,107.19. Also, Director David Ian Mckay sold 5,352 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of C$101.19, for a total value of C$541,568.88. Insiders sold a total of 19,531 shares of company stock worth $2,024,910 over the last quarter.
Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Wednesday, November 29th. The financial services provider reported C$1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.88 by C$0.04. Royal Bank of Canada had a net margin of 26.20% and a return on equity of 16.63%.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be given a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.67%. Royal Bank of Canada’s dividend payout ratio is 46.03%.
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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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