Royal Bank of Canada (RY) Announces $0.87 Quarterly Dividend
Royal Bank of Canada (TSE:RY) (NYSE:RY) announced a quarterly dividend on Thursday, May 25th. Stockholders of record on Wednesday, July 26th will be paid a dividend of 0.87 per share by the financial services provider on Thursday, August 24th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.74%.
Shares of Royal Bank of Canada (TSE:RY) traded up 1.38% during mid-day trading on Thursday, hitting $94.28. The stock had a trading volume of 2,053,236 shares. Royal Bank of Canada has a 52-week low of $74.64 and a 52-week high of $99.90. The company has a market cap of $139.09 billion and a PE ratio of 13.16. The stock has a 50 day moving average price of $94.42 and a 200-day moving average price of $93.59.
In other news, insider Jennifer Anne Tory sold 362 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of C$92.87, for a total transaction of C$33,618.94. Also, Director David Ian Mckay sold 3,578 shares of the firm’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of C$95.95, for a total value of C$343,309.10. Insiders have sold 47,701 shares of company stock valued at $4,650,454 in the last three months.
RY has been the subject of several research analyst reports. TD Securities reaffirmed a “buy” rating on shares of Royal Bank of Canada in a research note on Monday, April 3rd. CIBC raised their price objective on Royal Bank of Canada from C$101.00 to C$106.00 in a research note on Tuesday, March 7th. National Bank Financial reaffirmed a “sector perform” rating on shares of Royal Bank of Canada in a research note on Monday, February 20th. Keefe, Bruyette & Woods raised their price objective on Royal Bank of Canada from C$92.00 to C$99.00 and gave the company a “market perform” rating in a research note on Monday, February 27th. Finally, Scotiabank raised their price objective on Royal Bank of Canada from C$102.00 to C$104.00 and gave the company an “outperform” rating in a research note on Monday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of C$94.23.
About Royal Bank of Canada
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. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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