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

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price hoisted by Desjardins from C$262.00 to C$275.00 in a research report sent to investors on Friday morning,BayStreet.CA reports. The firm currently has a buy rating on the financial services provider’s stock.

RY has been the topic of a number of other research reports. TD upped their price target on shares of Royal Bank of Canada from C$267.00 to C$272.00 and gave the stock a “buy” rating in a research note on Friday. Scotiabank lifted their target price on shares of Royal Bank of Canada from C$247.00 to C$252.00 and gave the stock a “sector outperform” rating in a report on Monday, May 4th. National Bank Financial upped their target price on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Raymond James Financial increased their price target on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a report on Friday. Finally, TD Securities decreased their price objective on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average target price of C$258.50.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock opened at C$264.44 on Friday. The company has a 50-day moving average of C$241.24 and a 200 day moving average of C$231.99. Royal Bank of Canada has a 1 year low of C$171.29 and a 1 year high of C$265.10. The firm has a market cap of C$367.71 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 3.42 and a beta of 1.14.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported C$3.90 EPS for the quarter. The firm had revenue of C$17.45 billion for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%. On average, equities analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

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

Insider Buying and Selling

In other Royal Bank of Canada news, Director David Ian Mckay sold 23,089 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total value of C$5,606,470.98. Following the completion of the transaction, the director directly owned 5,873 shares in the company, valued at C$1,426,081.86. This represents a 79.72% decrease in their ownership of the stock. Also, insider Katherine Gibson sold 462 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total transaction of C$120,965.46. Following the sale, the insider owned 290 shares in the company, valued at C$75,930.70. The trade was a 61.44% decrease in their ownership of the stock. Insiders sold 58,220 shares of company stock worth $14,690,362 in the last quarter.

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

Royal Bank of Canada Company Profile

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.