BMO Capital Markets Raises Royal Bank of Canada (TSE:RY) Price Target to C$195.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target hoisted by BMO Capital Markets from C$165.00 to C$195.00 in a report released on Monday morning,BayStreet.CA reports.

A number of other equities analysts have also recently weighed in on RY. Barclays lifted their price target on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research report on Tuesday, August 20th. Canaccord Genuity Group lifted their price target on shares of Royal Bank of Canada from C$159.50 to C$172.00 in a research report on Thursday, August 29th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$178.00 to C$180.00 in a research report on Friday, November 15th. National Bankshares boosted their price objective on shares of Royal Bank of Canada from C$160.00 to C$169.00 in a research report on Thursday, August 29th. Finally, Scotiabank cut 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. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$168.00.

Royal Bank of Canada Trading Up 2.6 %

TSE RY opened at C$174.76 on Monday. The firm has a market cap of C$246.41 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 3.42 and a beta of 0.84. The company has a 50 day moving average of C$169.86 and a 200-day moving average of C$156.49. Royal Bank of Canada has a 1-year low of C$115.57 and a 1-year high of C$175.04.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, beating 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 business had revenue of C$14.63 billion during the quarter, compared to analyst estimates of C$14.27 billion. On average, analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

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

Insider Transactions at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.60, for a total value of C$1,646,000.00. Following the transaction, the insider now owns 25 shares in the company, 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 company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Insiders have sold 144,770 shares of company stock worth $23,959,265 in the last ninety days.

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.