BMO Capital Markets Boosts Royal Bank of Canada (TSE:RY) Price Target to C$195.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective boosted by BMO Capital Markets from C$165.00 to C$195.00 in a report released on Monday morning,BayStreet.CA reports.

Several other analysts also recently weighed in on the company. Cormark lifted their target price on Royal Bank of Canada from C$166.00 to C$171.00 in a research report on Thursday, August 29th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$178.00 to C$180.00 in a research report on Friday. Canaccord Genuity Group raised their target price on shares of Royal Bank of Canada from C$159.50 to C$172.00 in a research report on Thursday, August 29th. Bank of America boosted their price target on Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. Finally, Desjardins raised their price objective on 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. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average target price of C$165.85.

Royal Bank of Canada Trading Up 0.3 %

RY stock opened at C$171.60 on Monday. The stock has a market cap of C$241.96 billion, a PE ratio of 15.20, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 12 month low of C$115.57 and a 12 month high of C$175.04. The company has a 50-day moving average price of C$169.41 and a 200 day moving average price of C$155.69.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. The firm had revenue of C$14.63 billion for the quarter, compared to analysts’ expectations of C$14.27 billion. Sell-side analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s payout ratio is currently 50.31%.

Insider Transactions at Royal Bank of Canada

In other news, Director David Ian Mckay sold 74,852 shares of the business’s stock in a transaction 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 15,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of C$165.00, for a total value of C$2,475,000.00. Following the completion of the transaction, the insider now owns 25 shares of the company’s stock, valued at C$4,125. This trade represents a 99.83 % decrease in their position. Over the last three months, insiders have sold 144,770 shares of company stock valued at $23,959,265.

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.