TD Issues Positive Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target hoisted by TD from C$267.00 to C$272.00 in a research report sent to investors on Friday,BayStreet.CA reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on RY. Raymond James Financial cut Royal Bank of Canada from a “moderate buy” rating to a “hold” rating and lifted their target price for the company from C$248.00 to C$265.50 in a report on Tuesday, May 12th. TD Securities cut their price objective on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Scotiabank lifted their price objective on Royal Bank of Canada from C$247.00 to C$252.00 and gave the company a “sector outperform” rating in a research note on Monday, May 4th. National Bank Financial boosted their target price on Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, Canadian Imperial Bank of Commerce increased their target price on shares of Royal Bank of Canada from C$242.00 to C$258.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$258.50.

Royal Bank of Canada Stock Up 1.5%

RY stock opened at C$264.44 on Friday. The stock’s fifty day simple moving average is C$241.24 and its 200-day simple moving average is C$231.99. Royal Bank of Canada has a 52-week low of C$171.29 and a 52-week high of C$265.10. The stock has a market capitalization of C$367.71 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 3.42 and a beta of 1.14.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported C$3.90 EPS for the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. The company had revenue of C$17.45 billion during the quarter. As a group, analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were paid a dividend of $1.64 per share. The ex-dividend date was Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 2.5%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 42.58%.

Insider Transactions at Royal Bank of Canada

In other Royal Bank of Canada news, insider Jennifer Kristine Publicover sold 439 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total transaction of C$114,943.37. Following the completion of the sale, the insider owned 152 shares in the company, valued at C$39,798.16. This trade represents a 74.28% decrease in their position. Also, insider Katherine Gibson sold 462 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total transaction of C$120,965.46. Following the sale, the insider directly owned 290 shares of the company’s stock, valued at C$75,930.70. The trade was a 61.44% decrease in their position. Insiders have sold a total of 58,220 shares of company stock valued at $14,690,362 in the last three months.

Trending Headlines about Royal Bank of Canada

Here are the key news stories impacting Royal Bank of Canada this week:

• Positive Sentiment: Barclays raised its price target to C$260 and kept an overweight rating, signaling continued confidence in Royal Bank of Canada’s outlook. Barclays price target hike
• Positive Sentiment: Desjardins lifted its target to C$275 and reiterated a buy rating, implying more upside from current levels. Desjardins price target hike
• Positive Sentiment: Canaccord Genuity increased its target to C$280 and maintained a buy rating, reflecting a constructive view after the earnings release. Canaccord Genuity price target hike
• Positive Sentiment: TD raised its target to C$272 and kept a buy rating, adding to the broad analyst support. TD price target hike
• Neutral Sentiment: Raymond James boosted its target to C$270.50 but held a market perform rating, suggesting limited immediate upside despite better estimates. Raymond James price target hike
• Neutral Sentiment: CIBC raised its target to C$279 while keeping a neutral rating, indicating valuation may already reflect much of the near-term strength. CIBC price target hike

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.