Royal Bank of Canada (RY) To Go Ex-Dividend on January 27th

Royal Bank of Canada (TSE:RY) (NYSE:RY) declared a quarterly dividend on Monday, January 27th,RTT News reports. Investors of record on Monday, February 24th will be paid a dividend of 1.48 per share by the financial services provider on Monday, February 24th. This represents a $5.92 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.42.

Royal Bank of Canada Stock Up 0.2 %

Royal Bank of Canada stock opened at C$175.96 on Friday. Royal Bank of Canada has a 52 week low of C$127.60 and a 52 week high of C$180.45. The stock has a 50-day moving average price of C$174.33 and a 200 day moving average price of C$165.96. The company has a market capitalization of C$248.10 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Analyst Ratings Changes

Several equities analysts recently issued reports on RY shares. Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. National Bankshares upped their price objective on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. CIBC raised their target price on Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. Canaccord Genuity Group upped their price target on Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. Finally, TD Securities cut 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. Two research analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$176.58.

Insiders Place Their Bets

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 1,538 shares of Royal Bank of Canada stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of C$177.09, for a total transaction of C$272,363.80. Following the transaction, the insider now directly owns 25 shares of the company’s stock, valued at C$4,427.24. The trade was a 98.40 % decrease in their ownership of the stock. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total transaction of C$53,938.25. Insiders have sold 22,150 shares of company stock valued at $3,882,024 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.