Royal Bank of Canada (TSE:RY)‘s stock had its “neutral” rating reaffirmed by equities researchers at Dundee Securities in a research note issued on Wednesday. They currently have a C$87.00 target price on the stock. Dundee Securities’ price target suggests a potential upside of 7.33% from the stock’s previous close.

RY has been the subject of a number of other reports. CSFB cut their target price on shares of Royal Bank of Canada from C$100.00 to C$96.00 and set an “outperform” rating for the company in a report on Thursday, August 25th. Barclays PLC raised their target price on shares of Royal Bank of Canada from C$67.00 to C$72.00 and gave the company an “underweight” rating in a report on Wednesday, August 17th. TD Securities reissued a “hold” rating and issued a C$81.00 target price on shares of Royal Bank of Canada in a report on Monday, June 20th. CIBC raised their target price on shares of Royal Bank of Canada from C$82.00 to C$84.00 in a report on Thursday, August 25th. Finally, National Bank Financial raised their target price on shares of Royal Bank of Canada from C$83.00 to C$84.00 in a report on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of C$84.23.

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

Shares of Royal Bank of Canada (TSE:RY) traded up 0.48% on Wednesday, reaching $81.45. 980,044 shares of the company’s stock traded hands. The firm has a market cap of $120.85 billion and a P/E ratio of 11.87. The stock has a 50-day moving average of $80.68 and a 200 day moving average of $78.10. Royal Bank of Canada has a 12-month low of $64.52 and a 12-month high of $83.00.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/royal-bank-of-canada-ry-stock-rating-reaffirmed-by-dundee-securities.html

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 24th. Stockholders of record on Wednesday, October 26th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.10%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.81.

In other news, insider Janice Rose Fukakusa sold 62,960 shares of Royal Bank of Canada stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of C$81.08, for a total transaction of C$5,104,796.80.

Royal Bank of Canada Company Profile

Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets.

Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.