Royal Bank of Canada (RY) Given Average Recommendation of “Hold” by Brokerages
Royal Bank of Canada (TSE:RY) (NYSE:RY) has earned an average recommendation of “Hold” from the twelve ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$95.00.
Several equities research analysts recently commented on the stock. Scotiabank boosted their price objective on shares of 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. National Bank Financial reaffirmed a “sector perform” rating and issued a C$99.00 price objective on shares of Royal Bank of Canada in a research report on Friday, May 26th.
In other Royal Bank of Canada news, insider Jennifer Anne Tory sold 361 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of C$93.20, for a total transaction of C$33,645.20. Also, insider Alex Douglas Mcgregor sold 30,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of C$92.79, for a total transaction of C$2,783,700.00. Insiders have sold a total of 40,400 shares of company stock worth $3,756,065 over the last three months.
Royal Bank of Canada (RY) opened at 92.50 on Friday. The stock has a 50 day moving average of $94.14 and a 200-day moving average of $95.07. The firm has a market capitalization of $134.76 billion and a P/E ratio of 12.59. Royal Bank of Canada has a 1-year low of $79.74 and a 1-year high of $99.90.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Wednesday, July 26th will be given a $0.87 dividend. The ex-dividend date of this dividend is Monday, July 24th. This represents a $3.48 annualized dividend and a yield of 3.76%.
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. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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