Royal Bank of Canada (RY) Given Consensus Rating of “Hold” by Brokerages

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been given an average recommendation of “Hold” by the twelve analysts that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$108.45.

Several equities analysts recently commented on the stock. CSFB upped their target price on shares of Royal Bank of Canada from C$108.00 to C$114.00 in a research note on Friday, January 19th. National Bank Financial upped their target price on shares of Royal Bank of Canada from C$105.00 to C$107.00 and gave the company a “sector perform” rating in a research note on Friday, January 12th. CIBC cut shares of Royal Bank of Canada from an “outperform” rating to a “neutral” rating and upped their target price for the company from C$113.00 to C$114.00 in a research note on Thursday, February 1st. Eight Capital upgraded shares of Royal Bank of Canada from a “neutral” rating to a “buy” rating and upped their target price for the company from C$107.00 to C$113.00 in a research note on Monday, December 11th. Finally, Citigroup upped their target price on shares of Royal Bank of Canada from C$118.00 to C$120.00 in a research note on Tuesday, December 12th.

In other news, Director David Ian Mckay sold 5,352 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of C$101.19, for a total value of C$541,568.88. Also, insider Alex Douglas Mcgregor sold 7,403 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of C$101.73, for a total transaction of C$753,107.19. Insiders sold a total of 19,531 shares of company stock worth $2,024,910 in the last three months.

Shares of Royal Bank of Canada (TSE RY) opened at C$99.24 on Friday. Royal Bank of Canada has a one year low of C$90.13 and a one year high of C$108.52. The firm has a market cap of $144,980.00, a price-to-earnings ratio of 13.13 and a beta of 0.71.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Wednesday, November 29th. The financial services provider reported C$1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.88 by C$0.04. Royal Bank of Canada had a net margin of 26.20% and a return on equity of 16.63%.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, January 25th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 3.67%. The ex-dividend date is Wednesday, January 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 46.03%.

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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.

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

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