Royal Bank of Canada (TSE:RY) Stock Price Expected to Rise, National Bankshares Analyst Says

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target raised by National Bankshares from C$169.00 to C$181.00 in a research report released on Wednesday,BayStreet.CA reports.

A number of other research analysts also recently weighed in on RY. Jefferies Financial Group lowered their price objective on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Canaccord Genuity Group increased their price target on Royal Bank of Canada from C$172.00 to C$188.00 in a report on Tuesday, November 19th. BMO Capital Markets lifted their price objective on Royal Bank of Canada from C$165.00 to C$195.00 in a report on Monday, November 18th. Desjardins increased their target price on Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Cormark boosted their price target on Royal Bank of Canada from C$166.00 to C$171.00 in a research note on Thursday, August 29th. Two equities 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$171.58.

Royal Bank of Canada Trading Down 0.0 %

Royal Bank of Canada stock opened at C$174.71 on Wednesday. Royal Bank of Canada has a 12 month low of C$115.57 and a 12 month high of C$175.32. The stock has a fifty day simple moving average of C$170.00 and a two-hundred day simple moving average of C$156.75. The firm has a market cap of C$246.34 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, beating the consensus estimate 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 company had revenue of C$14.63 billion for the quarter, compared to analysts’ expectations of C$14.27 billion. On average, equities research analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd were given a dividend of $1.42 per share. The ex-dividend date was Thursday, October 24th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.25%. Royal Bank of Canada’s payout ratio is currently 50.31%.

Insider Buying and Selling

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of C$166.96, for a total transaction of C$1,252,207.50. Following the sale, the insider now directly owns 25 shares of the company’s stock, valued at C$4,174.03. This trade represents a 99.67 % decrease in their ownership of the stock. Also, Director David Ian Mckay sold 74,852 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total value of C$12,320,115.24. In the last ninety days, insiders sold 144,770 shares of company stock valued at $23,959,265.

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.