Eight Capital Raises Royal Bank of Canada (RY) Price Target to C$105.00
A number of other analysts have also recently issued reports on RY. National Bank Financial reaffirmed a sector perform rating and issued a C$99.00 price objective on shares of Royal Bank of Canada in a research report on Friday, May 26th. Scotiabank raised their price objective on Royal Bank of Canada from C$101.00 to C$102.00 and gave the company an outperform rating in a research report on Friday, May 26th. BMO Capital Markets reaffirmed a market perform rating and issued a C$100.00 price objective on shares of Royal Bank of Canada in a research report on Thursday, August 24th. Finally, Barclays PLC raised their price objective on Royal Bank of Canada from C$94.20 to C$96.00 in a research report on Friday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of C$99.75.
Shares of Royal Bank of Canada (TSE RY) opened at 93.04 on Friday. The firm has a 50-day moving average of $93.80 and a 200 day moving average of $95.01. Royal Bank of Canada has a 12 month low of $79.75 and a 12 month high of $99.90. The firm has a market cap of $135.65 billion and a P/E ratio of 12.71.
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The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be issued a dividend of $0.91 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.87. This represents a $3.64 annualized dividend and a yield of 3.91%.
In related news, Director Thierry Vandal sold 750 shares of Royal Bank of Canada stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of C$93.61, for a total transaction of C$70,207.50. Also, Director David Ian Mckay sold 3,577 shares of Royal Bank of Canada stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of C$93.26, for a total value of C$333,591.02. Over the last three months, insiders have sold 46,116 shares of company stock valued at $4,280,680.
About Royal Bank of Canada
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.
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