Royal Bank of Canada (TSE:RY) Receives Consensus Rating of “Buy” from Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given an average rating of “Buy” by the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$176.58.

A number of research analysts recently issued reports on the company. National Bankshares lifted their target price on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. CIBC lifted their price objective on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Scotiabank increased their target price on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research note on Monday, November 25th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and lifted their price target for the stock from C$178.00 to C$180.00 in a research report on Friday, November 15th. Finally, Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at C$173.53 on Thursday. The stock has a market cap of C$244.68 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The business’s fifty day moving average is C$173.69 and its 200-day moving average is C$161.54. Royal Bank of Canada has a 1 year low of C$127.60 and a 1 year high of C$180.45.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a $1.48 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.41%. Royal Bank of Canada’s dividend payout ratio is 50.31%.

Insider Buying and Selling

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 1,538 shares of Royal Bank of Canada stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of C$177.09, for a total value of C$272,363.80. Following the completion of the sale, the insider now directly owns 25 shares in the company, valued at C$4,427.24. The trade was a 98.40 % decrease in their ownership of the stock.

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.