Royal Bank of Canada (TSE:RY) Given Average Rating of “Hold” by Analysts
Royal Bank of Canada (TSE:RY) (NYSE:RY) has been given an average recommendation of “Hold” by the twelve analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$95.00.
Several equities research analysts recently commented on the company. TD Securities restated a “buy” rating on shares of Royal Bank of Canada in a research report on Monday, April 3rd. National Bank Financial restated a “sector perform” rating and set a C$99.00 target price on shares of Royal Bank of Canada in a research report on Friday, May 26th. Finally, Scotiabank upped their target price on Royal Bank of Canada from C$101.00 to C$102.00 and gave the company an “outperform” rating in a research report on Friday, May 26th.
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In other Royal Bank of Canada news, Director David Ian Mckay sold 3,578 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of C$92.82, for a total value of C$332,109.96. Also, insider Jennifer Anne Tory sold 362 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of C$92.87, for a total value of C$33,618.94. In the last quarter, insiders sold 38,628 shares of company stock worth $3,586,873.
Shares of Royal Bank of Canada (TSE:RY) opened at 94.75 on Monday. Royal Bank of Canada has a 52-week low of $78.24 and a 52-week high of $99.90. The stock’s 50 day moving average price is $94.31 and its 200-day moving average price is $95.07. The firm has a market cap of $138.04 billion and a price-to-earnings ratio of 12.90.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Wednesday, July 26th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, July 24th. This represents a $3.48 annualized dividend and a dividend yield of 3.67%.
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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