Royal Bank of Canada (RY) Given Consensus Rating of “Hold” by Analysts
Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have earned an average recommendation of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$95.00.
Several analysts have commented on the stock. 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 lifted their price objective on shares of Royal Bank of Canada from C$101.00 to C$102.00 and gave the stock an “outperform” rating in a research report on Friday, May 26th.
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Royal Bank of Canada (TSE RY) opened at 92.50 on Friday. The firm has a market cap of $134.76 billion and a price-to-earnings ratio of 12.59. The company has a 50-day moving average of $94.14 and a 200-day moving average of $95.07. Royal Bank of Canada has a 52 week low of $79.74 and a 52 week high of $99.90.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Wednesday, July 26th will be paid a dividend of $0.87 per share. The ex-dividend date is Monday, July 24th. This represents a $3.48 annualized dividend and a yield of 3.76%.
In related news, Director Thierry Vandal sold 750 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of C$93.61, for a total transaction of C$70,207.50. Also, insider Alex Douglas Mcgregor sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of C$92.79, for a total transaction of C$2,783,700.00. In the last ninety days, insiders have sold 40,400 shares of company stock valued at $3,756,065.
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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