Royal Bank of Canada (TSE:RY) Price Target Raised to C$188.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price upped by National Bankshares from C$181.00 to C$188.00 in a research report report published on Thursday,BayStreet.CA reports.

Other analysts have also recently issued reports about the stock. Cormark lifted their target price on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a research note on Thursday, August 29th. CIBC lifted their price target on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday, November 26th. Scotiabank lifted their price target on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. Bank of America lifted their price target on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. Finally, BMO Capital Markets lifted their price target on shares of Royal Bank of Canada from C$165.00 to C$195.00 in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$176.58.

Royal Bank of Canada Stock Performance

RY stock opened at C$178.27 on Thursday. The stock has a market capitalization of C$251.36 billion, a P/E ratio of 15.79, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a one year low of C$123.44 and a one year high of C$180.45. The company has a 50 day moving average price of C$171.85 and a two-hundred day moving average price of C$159.17.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a dividend of $1.48 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a dividend yield of 3.32%. Royal Bank of Canada’s payout ratio is presently 50.31%.

Insider Activity at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 17,000 shares of Royal Bank of Canada stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$167.95, for a total transaction of C$2,855,150.00. Following the transaction, the insider now owns 25 shares in the company, valued at approximately C$4,198.75. The trade was a 99.85 % decrease in their position. In the last 90 days, insiders have sold 44,918 shares of company stock worth $7,518,149.

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.