TD Securities Increases Royal Bank of Canada (TSE:RY) Price Target to C$171.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective increased by TD Securities from C$160.00 to C$171.00 in a research note issued to investors on Thursday morning, BayStreet.CA reports.

A number of other equities research analysts also recently issued reports on RY. CIBC increased their target price on shares of Royal Bank of Canada from C$135.00 to C$150.00 and gave the stock a neutral rating in a research report on Friday, May 31st. Desjardins lifted their target price on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a buy rating in a report on Tuesday, August 6th. Argus upgraded shares of Royal Bank of Canada to a strong-buy rating in a report on Thursday, June 6th. Scotiabank upped their target price on shares of Royal Bank of Canada from C$148.00 to C$153.00 and gave the company an outperform rating in a research note on Friday, May 31st. Finally, National Bankshares boosted their price target on shares of Royal Bank of Canada from C$154.00 to C$161.00 and gave the company an outperform rating in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of C$146.76.

Royal Bank of Canada Trading Up 0.4 %

TSE RY opened at C$149.84 on Thursday. Royal Bank of Canada has a 52 week low of C$107.92 and a 52 week high of C$155.22. The stock has a market cap of C$211.27 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 10.64 and a beta of 0.83. The company has a 50-day moving average price of C$148.31 and a two-hundred day moving average price of C$140.30.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Thursday, May 30th. The financial services provider reported C$2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.77 by C$0.15. The business had revenue of C$14.15 billion during the quarter, compared to analysts’ expectations of C$13.58 billion. Royal Bank of Canada had a net margin of 28.61% and a return on equity of 13.66%. As a group, equities research analysts expect that Royal Bank of Canada will post 11.1525292 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.79%. The ex-dividend date is Thursday, July 25th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.38. Royal Bank of Canada’s dividend payout ratio is presently 51.54%.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Neil Mclaughlin sold 14,778 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total value of C$2,161,474.61. In other news, Senior Officer Neil Mclaughlin sold 14,778 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. Also, Senior Officer Bruce Washington Ross sold 20,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the sale, the insider now directly owns 235 shares of the company’s stock, valued at approximately C$33,133.12. Over the last 90 days, insiders sold 101,302 shares of company stock valued at $14,592,565.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.