Royal Bank of Canada (RY) Given Average Recommendation of “Hold” by Brokerages
Royal Bank of Canada (TSE:RY) (NYSE:RY) has earned an average rating of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$95.00.
A number of research analysts recently commented on RY shares. Scotiabank boosted their price target on Royal Bank of Canada from C$101.00 to C$102.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. CIBC raised Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a report on Monday, February 27th. TD Securities reissued a “buy” rating and issued a C$105.00 price target on shares of Royal Bank of Canada in a report on Monday, February 27th. Keefe, Bruyette & Woods boosted their price target on Royal Bank of Canada from C$92.00 to C$99.00 and gave the stock a “market perform” rating in a report on Monday, February 27th. Finally, National Bank Financial reissued a “sector perform” rating and issued a C$99.00 price target on shares of Royal Bank of Canada in a report on Friday, May 26th.
In other news, insider Jennifer Anne Tory sold 355 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of C$95.98, for a total transaction of C$34,072.90. Also, insider Alex Douglas Mcgregor sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of C$92.79, for a total value of C$2,783,700.00. Insiders have sold a total of 42,561 shares of company stock worth $3,964,255 over the last ninety days.
Shares of Royal Bank of Canada (TSE RY) opened at 93.99 on Tuesday. The stock has a 50 day moving average of $93.42 and a 200-day moving average of $94.55. Royal Bank of Canada has a one year low of $74.64 and a one year high of $99.90. The stock has a market capitalization of $136.93 billion and a P/E ratio of 12.79.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Wednesday, July 26th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 3.70%.
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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