Royal Bank of Canada (TSE:RY) Price Target Raised to C$268.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target raised by Jefferies Financial Group from C$240.00 to C$268.00 in a research note released on Thursday,BayStreet.CA reports.

Other research analysts have also issued reports about the stock. National Bank Financial raised their price target on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Barclays boosted their price objective on Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Raymond James Financial increased their target price on Royal Bank of Canada from C$270.50 to C$306.00 and gave the company a “market perform” rating in a report on Wednesday. Canaccord Genuity Group raised their target price on Royal Bank of Canada from C$282.00 to C$310.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, TD lifted their price target on Royal Bank of Canada from C$272.00 to C$307.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$278.23.

Royal Bank of Canada Stock Performance

TSE:RY opened at C$300.70 on Thursday. The stock has a market capitalization of C$417.87 billion, a PE ratio of 19.55, a P/E/G ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a fifty-two week low of C$187.79 and a fifty-two week high of C$306.38. The company has a fifty day moving average of C$291.88 and a two-hundred day moving average of C$256.69.

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

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 24th will be given a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 2.3%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 41.35%.

Insider Activity at Royal Bank of Canada

In other Royal Bank of Canada news, insider Bruce Washington Ross sold 3,657 shares of the firm’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of C$297.19, for a total value of C$1,086,823.83. Following the transaction, the insider directly owned 235 shares of the company’s stock, valued at C$69,839.65. This trade represents a 93.96% decrease in their position. Also, insider Neil Mclaughlin sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of C$287.70, for a total value of C$1,006,950.00. Insiders have sold 353,206 shares of company stock worth $100,237,874 in the last 90 days.

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.