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Equities researchers at Scotiabank cut their target price on shares of Royal Bank of Canada (TSE:RY) from C$87.00 to C$86.00 in a research report issued on Monday. The firm currently has an “outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 6.44% from the stock’s previous close.

Royal Bank of Canada (TSE:RY) traded up 0.50% during mid-day trading on Monday, hitting $81.20. The stock had a trading volume of 961,082 shares. Royal Bank of Canada has a 52 week low of $63.76 and a 52 week high of $82.15. The stock’s 50-day moving average is $79.57 and its 200-day moving average is $74.77. The company has a market cap of $117.0 billion and a P/E ratio of 13.81.

The company also recently declared a quarterly dividend, which is scheduled for Monday, November 24th. Shareholders of record on Monday, October 27th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.71%.

Royal Bank of Canada (TSE:RY) is a diversified financial services company.

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