Royal Bank of Canada (TSE:RY) Given a C$165.00 Price Target by UBS Group Analysts

UBS Group set a C$165.00 price objective on Royal Bank of Canada (TSE:RY) (NYSE:RY) in a research note published on Tuesday morning, BayStreet.CA reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other analysts also recently weighed in on the company. Argus raised Royal Bank of Canada to a strong-buy rating in a research note on Thursday, June 6th. Desjardins lifted their target price on Royal Bank of Canada from C$142.00 to C$156.00 and gave the company a buy rating in a research note on Friday, May 31st. CIBC boosted their price objective on Royal Bank of Canada from C$135.00 to C$150.00 and gave the stock a neutral rating in a research note on Friday, May 31st. Scotiabank boosted their price objective on Royal Bank of Canada from C$148.00 to C$153.00 and gave the stock an outperform rating in a research note on Friday, May 31st. Finally, BMO Capital Markets downgraded Royal Bank of Canada from a strong-buy rating to a hold rating in a research note 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of C$145.71.

Royal Bank of Canada Price Performance

TSE:RY opened at C$146.97 on Tuesday. Royal Bank of Canada has a 12-month low of C$107.92 and a 12-month high of C$149.24. The firm has a market capitalization of C$207.23 billion, a P/E ratio of 13.70, a P/E/G ratio of 10.64 and a beta of 0.83. The business has a 50 day simple moving average of C$142.36 and a 200 day simple moving average of C$136.73.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Thursday, May 30th. The financial services provider reported C$2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.77 by C$0.15. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. The business had revenue of C$14.15 billion during the quarter, compared to analyst estimates of C$13.58 billion. Research analysts anticipate that Royal Bank of Canada will post 11.1525292 EPS 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. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $5.68 dividend on an annualized basis and a yield of 3.86%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.38. Royal Bank of Canada’s payout ratio is 51.54%.

Insider Buying and Selling at Royal Bank of Canada

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

Royal Bank of Canada Company Profile

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.