Royal Bank of Canada (TSE:RY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have earned an average rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$144.50.

A number of research firms have recently issued reports on RY. Scotiabank lifted their price objective on shares of Royal Bank of Canada from C$148.00 to C$153.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. National Bankshares boosted their price objective on shares of Royal Bank of Canada from C$154.00 to C$161.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Jefferies Financial Group raised their target price on Royal Bank of Canada from C$159.00 to C$168.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. CIBC lifted their target price on Royal Bank of Canada from C$135.00 to C$150.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. Finally, Argus raised Royal Bank of Canada to a “strong-buy” rating in a report on Thursday, June 6th.

Royal Bank of Canada Stock Performance

Shares of TSE:RY opened at C$142.87 on Friday. The business’s 50-day simple moving average is C$140.64 and its 200 day simple moving average is C$135.17. The company has a market cap of C$201.45 billion, a P/E ratio of 13.34, a PEG ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a one year low of C$107.92 and a one year high of C$149.24.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be issued a $1.42 dividend. The ex-dividend date is Thursday, July 25th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.38. This represents a $5.68 annualized dividend and a dividend yield of 3.98%. Royal Bank of Canada’s payout ratio is 51.54%.

Insider Buying and Selling

In related news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of C$145.15, for a total value of C$7,889,646.16. Following the sale, the insider now owns 25 shares of the company’s stock, valued at approximately C$3,628.83. In other Royal Bank of Canada news, Senior Officer Neil Mclaughlin sold 14,778 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. Also, Senior Officer Douglas Antony Guzman sold 54,354 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of C$145.15, for a total transaction of C$7,889,646.16. Following the completion of the transaction, the insider now owns 25 shares of the company’s stock, valued at approximately C$3,628.83.

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.