Royal Bank of Canada (TSE:RY) Upgraded at Natl Bk Canada

Natl Bk Canada upgraded shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

A number of other research firms have also commented on RY. Raymond James Financial set a C$229.00 price objective on shares of Royal Bank of Canada and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Barclays boosted their target price on Royal Bank of Canada from C$203.00 to C$221.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Canaccord Genuity Group increased their price target on Royal Bank of Canada from C$201.00 to C$219.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Erste Group Bank raised shares of Royal Bank of Canada to a “strong-buy” rating in a research note on Monday, September 22nd. Finally, CIBC upped their price objective on shares of Royal Bank of Canada from C$208.00 to C$220.00 in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$216.43.

Royal Bank of Canada Trading Up 1.1%

Shares of TSE RY opened at C$218.64 on Monday. The stock has a market cap of C$308.35 billion, a P/E ratio of 16.54, a P/E/G ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a twelve month low of C$151.25 and a twelve month high of C$220.26. The stock has a 50 day moving average of C$207.06 and a two-hundred day moving average of C$192.35.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share (EPS) for the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. As a group, research analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 24th were paid a dividend of $1.54 per share. The ex-dividend date was Monday, October 27th. This represents a $6.16 annualized dividend and a yield of 2.8%. Royal Bank of Canada’s dividend payout ratio is 44.78%.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.