Royal Bank of Canada (TSE:RY) Given New C$188.00 Price Target at Canaccord Genuity Group

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective upped by Canaccord Genuity Group from C$172.00 to C$188.00 in a research report report published on Tuesday,BayStreet.CA reports.

A number of other equities analysts have also recently commented on RY. Scotiabank reduced their price objective on shares of Royal Bank of Canada from C$157.00 to C$154.00 in a research report on Monday, August 19th. Barclays lifted their target price on Royal Bank of Canada from C$145.00 to C$150.00 in a report on Tuesday, August 20th. Desjardins lifted their target price 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. Bank of America lifted their target price on Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. Finally, CIBC lifted their target price on Royal Bank of Canada from C$166.00 to C$167.00 in a report on Friday, September 6th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$168.00.

Royal Bank of Canada Trading Down 0.0 %

TSE:RY opened at C$174.71 on Tuesday. Royal Bank of Canada has a 1-year low of C$115.57 and a 1-year high of C$175.32. The firm has a fifty day simple moving average of C$170.00 and a 200 day simple moving average of C$156.75. The stock has a market capitalization of C$246.34 billion, a PE ratio of 15.47, a P/E/G 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, topping analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. The firm had revenue of C$14.63 billion during the quarter, compared to analysts’ expectations of C$14.27 billion. On average, equities analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 22nd were paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.60, for a total value of C$1,646,000.00. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,115. This represents a 99.75 % decrease in their position. Also, Director David Ian Mckay sold 74,852 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. 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.