Royal Bank of Canada (TSE:RY) PT Lowered to C$109.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target decreased by CIBC from C$114.00 to C$109.00 in a report published on Monday, June 11th.

Several other analysts also recently weighed in on RY. Canaccord Genuity lifted their target price on Royal Bank of Canada from C$107.00 to C$109.00 in a research report on Monday, February 26th. Barclays lifted their target price on Royal Bank of Canada from C$100.00 to C$103.00 in a research report on Monday, February 26th. National Bank Financial lifted their target price on Royal Bank of Canada from C$107.00 to C$109.00 and gave the stock a sector perform rating in a research report on Monday, February 26th. BMO Capital Markets reiterated a market perform rating and set a C$106.00 target price on shares of Royal Bank of Canada in a research report on Monday, February 26th. Finally, Scotiabank decreased their target price on Royal Bank of Canada from C$112.00 to C$110.00 and set a sector perform rating for the company in a research report on Friday, May 25th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Royal Bank of Canada presently has an average rating of Hold and an average target price of C$110.80.

RY traded up C$0.17 during trading on Monday, reaching C$98.99. The company had a trading volume of 2,162,500 shares, compared to its average volume of 2,302,524. Royal Bank of Canada has a 52 week low of C$90.13 and a 52 week high of C$108.52.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Thursday, May 24th. The financial services provider reported C$2.10 earnings per share for the quarter, topping the consensus estimate of C$2.07 by C$0.03. Royal Bank of Canada had a return on equity of 16.49% and a net margin of 26.17%. The business had revenue of C$10.05 billion during the quarter, compared to the consensus estimate of C$10.06 billion.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Thursday, July 26th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, July 25th. This represents a $3.76 annualized dividend and a dividend yield of 3.80%.

In related news, insider Helena Gottschling sold 1,080 shares of Royal Bank of Canada stock in a transaction dated Friday, April 20th. The stock was sold at an average price of C$97.08, for a total value of C$104,846.40. Also, insider Alex Douglas Mcgregor sold 15,000 shares of Royal Bank of Canada stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of C$99.25, for a total value of C$1,488,750.00. Over the last 90 days, insiders purchased 1,060 shares of company stock valued at $84,446 and sold 54,158 shares valued at $5,417,337.

Royal Bank of Canada Company Profile

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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