Brokerages Set Royal Bank of Canada (TSE:RY) Target Price at C$163.38

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been assigned a consensus rating of “Buy” from the twelve brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is C$163.38.

A number of research analysts have commented on RY shares. Desjardins upped their target price on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. BMO Capital Markets upped their price target on Royal Bank of Canada from C$151.00 to C$165.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Canaccord Genuity Group raised their target price on Royal Bank of Canada from C$159.50 to C$172.00 in a report on Thursday, August 29th. CIBC boosted their price target on shares of Royal Bank of Canada from C$166.00 to C$167.00 in a research note on Friday, September 6th. Finally, Cormark increased their price target on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a research report on Thursday, August 29th.

Insider Buying and Selling at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$167.91, for a total transaction of C$1,679,100.00. Following the completion of the transaction, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,197.75. In related news, Director David Ian Mckay sold 74,852 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 10,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$167.91, for a total transaction of C$1,679,100.00. Following the sale, the insider now directly owns 25 shares of the company’s stock, valued at C$4,197.75. Over the last 90 days, insiders have sold 120,270 shares of company stock valued at $19,851,907.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at C$166.93 on Tuesday. Royal Bank of Canada has a fifty-two week low of C$107.92 and a fifty-two week high of C$169.04. The firm has a market capitalization of C$235.37 billion, a P/E ratio of 14.79, a PEG ratio of 10.64 and a beta of 0.84. The stock’s fifty day moving average is C$155.95 and its two-hundred day moving average is C$145.66.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, topping analysts’ consensus estimates of C$2.95 by C$0.31. The firm had revenue of C$14.63 billion for the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%.

Royal Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, October 24th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.40%. Royal Bank of Canada’s payout ratio is 50.31%.

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.